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2021-10-14

Really?

Apple Stock Still a Buy After Output Reports: Analyst Huberty<blockquote>分析师休伯蒂：产出报告发布后，苹果股票仍值得买入</blockquote>

2021-07-24

Comment

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2021-06-30

Good read

The Lost Decade: Lessons From Japan's Real Estate Crisis<blockquote>失去的十年：日本房地产危机的教训</blockquote>

2021-06-21

Tell me your opinion about this news...

抱歉，原内容已删除

2021-06-21

Let it flow

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2021-06-18

Easy to say, hard to apply

Looking for hedges against inflation? Try Apple, Nike, Verizon and stocks with this in common, strategists say<blockquote>寻找通胀对冲工具？策略师表示，尝试苹果、Nike、Verizon和具有此共同点的股票</blockquote>

2021-06-16

Make more babies. But too expensive to raise a child, comfortably at least

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2021-06-16

yea i think netflix should be able to pull this off

2 Reasons Netflix Will Win Its Merchandising Gambit<blockquote>Netflix赢得营销策略的2个原因</blockquote>

2021-06-11

Support local businesses 😂

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2021-06-05

definitely. what’s there to lose? just buy more products you don’t actually need!!

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2021-06-03

🍿

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2021-06-02

Yea

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2021-05-24

Yup

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2021-05-18

come on

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2021-05-13

Alocoholics be like ROKU GIN!!

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2021-05-12

Good luck

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2021-05-05

at least she didn’t put her personal juices and sold them

Jessica Alba's Ethical Consumerism-Centered Brand Honest Company Raises $413M In IPO<blockquote>杰西卡·阿尔芭(Jessica Alba)以道德消费主义为中心的品牌Honest Company通过IPO筹集4.13亿美元</blockquote>

2021-05-05

wow.

Bill And Melinda Gates' Divorce News A Bull Case For GameStop? What You Need To Know<blockquote>比尔·盖茨和梅琳达·盖茨的离婚消息是游戏驿站的牛市吗？你需要知道什么</blockquote>

2021-05-03

praying for the people in India. on another note, can this be reflected in our petrol prices? 😩

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2021-05-03

Yea sure

Uber, Pfizer, PayPal, T-Mobile, ViacomCBS, General Motors, and Other Stocks for Investors to Watch This Week<blockquote>Uber、辉瑞、PayPal、T-Mobile、ViacomCBS、General Motors等本周值得投资者关注的股票</blockquote>

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15:23","market":"us","language":"en","title":"Apple Stock Still a Buy After Output Reports: Analyst Huberty<blockquote>分析师休伯蒂：产出报告发布后，苹果股票仍值得买入</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1155561431","media":"TheStreet","summary":"Morgan Stanley analyst Katy Huberty reiterated an overweight rating on Apple after reports that iPho","content":"<p>Morgan Stanley analyst Katy Huberty reiterated an overweight rating on Apple after reports that iPhone output might be hindered by the global chip shortage.</p><p><blockquote>摩根士丹利分析师Katy Huberty重申了对苹果的跑赢大盘评级，此前有报道称iPhone产量可能受到全球芯片短缺的阻碍。</blockquote></p><p> Morgan Stanley analyst Katy Huberty on Wednesday urged investors to buy the dip in Apple&nbsp;despite&nbsp;reports that the tech giant may need to cut production of its signature iPhone 13 by as much as 10 million units due to the global chip shortage.</p><p><blockquote>摩根士丹利分析师Katy Huberty周三敦促投资者逢低买入苹果，尽管有报道称，由于全球芯片短缺，这家科技巨头可能需要将其标志性iPhone 13的产量削减多达1000万部。</blockquote></p><p> \"We are buyers of any near-term Apple share price weakness on iPhone supply-chain disruption given Apple is likely to receive more supply than competitors, demand isn't perishable,\" Huberty wrote in a note.</p><p><blockquote>休伯蒂在一份报告中写道：“鉴于苹果可能比竞争对手获得更多的供应，因此苹果股价近期因iPhone供应链中断而疲软，我们都是买家，需求不会消失。”</blockquote></p><p> \"If Apple can't meet near-term demand, the shortfall is likely to be even greater at competitors, creating an opportunity for share gains,\" she wrote in a note published Wednesday.</p><p><blockquote>她在周三发布的一份报告中写道：“如果苹果无法满足近期需求，竞争对手的缺口可能会更大，从而为份额增长创造机会。”</blockquote></p><p> Shares of the Cupertino, Calif., company on&nbsp;Wednesday slipped 0.4% to $140.91.</p><p><blockquote>这家位于加利福尼亚州库比蒂诺的公司股价周三下跌0.4%，至140.91美元。</blockquote></p><p> The investment firm maintained its overweight rating on the stock with a price target of $168 a share.</p><p><blockquote>该投资公司维持该股的跑赢大盘评级，目标价为每股168美元。</blockquote></p><p> \"While we have not specifically heard of material iPhone production bottlenecks due to semiconductor shortages at Broadcom&nbsp;or Texas Instruments, broader supply tightness continues to be a real issue across a number of end markets,\" she added.</p><p><blockquote>她补充道：“虽然我们没有具体听说过由于博通或德州仪器半导体短缺而导致iPhone生产出现重大瓶颈，但更广泛的供应紧张仍然是许多终端市场的现实问题。”</blockquote></p><p> Broadcom and Texas Instruments are manufacturing partners for Apple.</p><p><blockquote>博通和德州仪器是苹果的制造合作伙伴。</blockquote></p><p> Apple had expected to produce 90 million new iPhone models in the last three months of the year.</p><p><blockquote>苹果曾预计今年最后三个月将生产9000万部新款iPhone。</blockquote></p><p> But it’s now telling manufacturing partners that the total will be lower because Broadcom and Texas Instruments are struggling to deliver enough components,Bloomberg reported, citing sources.</p><p><blockquote>但据彭博社援引消息人士的话报道，该公司现在告诉制造合作伙伴，总数将会更低，因为博通和德州仪器正在努力交付足够的组件。</blockquote></p><p> \"Our FY22 estimates are unlikely to change materially even if revenue and EPS shift across quarters,\" she added.</p><p><blockquote>她补充道：“即使收入和每股收益跨季度发生变化，我们对2022财年的预测也不太可能发生重大变化。”</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Stock Still a Buy After Output Reports: Analyst Huberty<blockquote>分析师休伯蒂：产出报告发布后，苹果股票仍值得买入</blockquote></title>\n<style 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}\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple Stock Still a Buy After Output Reports: Analyst Huberty<blockquote>分析师休伯蒂：产出报告发布后，苹果股票仍值得买入</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">TheStreet</strong><span class=\"h-time small\">2021-10-14 15:23</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Morgan Stanley analyst Katy Huberty reiterated an overweight rating on Apple after reports that iPhone output might be hindered by the global chip shortage.</p><p><blockquote>摩根士丹利分析师Katy Huberty重申了对苹果的跑赢大盘评级，此前有报道称iPhone产量可能受到全球芯片短缺的阻碍。</blockquote></p><p> Morgan Stanley analyst Katy Huberty on Wednesday urged investors to buy the dip in Apple&nbsp;despite&nbsp;reports that the tech giant may need to cut production of its signature iPhone 13 by as much as 10 million units due to the global chip shortage.</p><p><blockquote>摩根士丹利分析师Katy Huberty周三敦促投资者逢低买入苹果，尽管有报道称，由于全球芯片短缺，这家科技巨头可能需要将其标志性iPhone 13的产量削减多达1000万部。</blockquote></p><p> \"We are buyers of any near-term Apple share price weakness on iPhone supply-chain disruption given Apple is likely to receive more supply than competitors, demand isn't perishable,\" Huberty wrote in a note.</p><p><blockquote>休伯蒂在一份报告中写道：“鉴于苹果可能比竞争对手获得更多的供应，因此苹果股价近期因iPhone供应链中断而疲软，我们都是买家，需求不会消失。”</blockquote></p><p> \"If Apple can't meet near-term demand, the shortfall is likely to be even greater at competitors, creating an opportunity for share gains,\" she wrote in a note published Wednesday.</p><p><blockquote>她在周三发布的一份报告中写道：“如果苹果无法满足近期需求，竞争对手的缺口可能会更大，从而为份额增长创造机会。”</blockquote></p><p> Shares of the Cupertino, Calif., company on&nbsp;Wednesday slipped 0.4% to $140.91.</p><p><blockquote>这家位于加利福尼亚州库比蒂诺的公司股价周三下跌0.4%，至140.91美元。</blockquote></p><p> The investment firm maintained its overweight rating on the stock with a price target of $168 a share.</p><p><blockquote>该投资公司维持该股的跑赢大盘评级，目标价为每股168美元。</blockquote></p><p> \"While we have not specifically heard of material iPhone production bottlenecks due to semiconductor shortages at Broadcom&nbsp;or Texas Instruments, broader supply tightness continues to be a real issue across a number of end markets,\" she added.</p><p><blockquote>她补充道：“虽然我们没有具体听说过由于博通或德州仪器半导体短缺而导致iPhone生产出现重大瓶颈，但更广泛的供应紧张仍然是许多终端市场的现实问题。”</blockquote></p><p> Broadcom and Texas Instruments are manufacturing partners for Apple.</p><p><blockquote>博通和德州仪器是苹果的制造合作伙伴。</blockquote></p><p> Apple had expected to produce 90 million new iPhone models in the last three months of the year.</p><p><blockquote>苹果曾预计今年最后三个月将生产9000万部新款iPhone。</blockquote></p><p> But it’s now telling manufacturing partners that the total will be lower because Broadcom and Texas Instruments are struggling to deliver enough components,Bloomberg reported, citing sources.</p><p><blockquote>但据彭博社援引消息人士的话报道，该公司现在告诉制造合作伙伴，总数将会更低，因为博通和德州仪器正在努力交付足够的组件。</blockquote></p><p> \"Our FY22 estimates are unlikely to change materially even if revenue and EPS shift across quarters,\" she added.</p><p><blockquote>她补充道：“即使收入和每股收益跨季度发生变化，我们对2022财年的预测也不太可能发生重大变化。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/apple-stock-remains-a-buy-morgan-stanley-analyst-huberty\">TheStreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.thestreet.com/investing/apple-stock-remains-a-buy-morgan-stanley-analyst-huberty","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155561431","content_text":"Morgan Stanley analyst Katy Huberty reiterated an overweight rating on Apple after reports that iPhone output might be hindered by the global chip shortage.\nMorgan Stanley analyst Katy Huberty on Wednesday urged investors to buy the dip in Apple despite reports that the tech giant may need to cut production of its signature iPhone 13 by as much as 10 million units due to the global chip shortage.\n\"We are buyers of any near-term Apple share price weakness on iPhone supply-chain disruption given Apple is likely to receive more supply than competitors, demand isn't perishable,\" Huberty wrote in a note.\n\"If Apple can't meet near-term demand, the shortfall is likely to be even greater at competitors, creating an opportunity for share gains,\" she wrote in a note published Wednesday.\nShares of the Cupertino, Calif., company on Wednesday slipped 0.4% to $140.91.\nThe investment firm maintained its overweight rating on the stock with a price target of $168 a share.\n\"While we have not specifically heard of material iPhone production bottlenecks due to semiconductor shortages at Broadcom or Texas Instruments, broader supply tightness continues to be a real issue across a number of end markets,\" she added.\nBroadcom and Texas Instruments are manufacturing partners for Apple.\nApple had expected to produce 90 million new iPhone models in the last three months of the year.\nBut it’s now telling manufacturing partners that the total will be lower because Broadcom and Texas Instruments are struggling to deliver enough components,Bloomberg reported, citing sources.\n\"Our FY22 estimates are unlikely to change materially even if revenue and EPS shift across quarters,\" she added.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":1949,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":174191277,"gmtCreate":1627084359999,"gmtModify":1631894050969,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3563007583951606","authorIdStr":"3563007583951606"},"themes":[],"htmlText":"Comment","listText":"Comment","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/174191277","repostId":"2153980423","repostType":4,"isVote":1,"tweetType":1,"viewCount":1497,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":153637612,"gmtCreate":1625020828136,"gmtModify":1631894050984,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3563007583951606","authorIdStr":"3563007583951606"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/153637612","repostId":"1160246970","repostType":4,"repost":{"id":"1160246970","kind":"news","pubTimestamp":1625016621,"share":"https://www.laohu8.com/m/news/1160246970?lang=zh_CN&edition=full","pubTime":"2021-06-30 09:30","market":"us","language":"en","title":"The Lost Decade: Lessons From Japan's Real Estate Crisis<blockquote>失去的十年：日本房地产危机的教训</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1160246970","media":"investopedia","summary":"What Was Japan's \"Lost Decade\" Real Estate Crisis?\nFree markets economies are subject tocycles.Econo","content":"<p><b>What Was Japan's \"Lost Decade\" Real Estate Crisis?</b></p><p><blockquote><b>日本“失去的十年”房地产危机是什么？</b></blockquote></p><p> Free markets economies are subject tocycles.Economic cyclesconsist of fluctuating periods of economic expansion andcontractionas measured by a nation'sgross domestic product(GDP).</p><p><blockquote>自由市场经济受到周期的影响。经济周期由以一个国家的国内生产总值（GDP）衡量的经济扩张和收缩的波动时期组成。</blockquote></p><p> The length of economic cycles (periods of expansion vs. contraction) can vary greatly. The traditional measure of an economicrecessionis two or more consecutive quarters of falling gross domestic product. There are also economic depressions, which are extended periods of economic contraction such as theGreat Depressionof the 1930s.</p><p><blockquote>经济周期的长度（扩张期与收缩期）可能会有很大差异。经济衰退的传统衡量标准是国内生产总值连续两个或两个以上季度下降。还有经济萧条，即长期的经济收缩，例如20世纪30年代的大萧条。</blockquote></p><p> From 1991 through 2001, Japan experienced a period of economicstagnationand price deflation known as \"Japan'sLost Decade.\" While the Japanese economy outgrew this period, it did so at a much slower pace than other industrialized nations. During this period, the Japanese economy suffered from both acredit crunchand aliquidity trap.</p><p><blockquote>从1991年到2001年，日本经历了一段被称为“日本失去的十年”的经济停滞和物价通缩时期。虽然日本经济增长超过了这一时期，但其增长速度比其他工业化国家慢得多。在此期间，日本经济遭受了信贷紧缩和流动性陷阱。</blockquote></p><p> Understanding Japan's \"Lost Decade\" Real Estate CrisisJapan's Lost Decade</p><p><blockquote>了解日本“失去的十年”房地产危机日本失去的十年</blockquote></p><p> Japan's economy was the envy of the world in the 1980s—it grew at an average annual rate (as measured by GDP) of 3.89% in the 1980s, compared to 3.07% in the United States.1But Japan's economy ran into troubles in the 1990s.</p><p><blockquote>日本经济在20世纪80年代令世界羡慕——20世纪80年代的年均增长率（以GDP衡量）为3.89%，而美国为3.07%。1但日本经济在20世纪90年代陷入了困境。</blockquote></p><p> From 1991 to 2003, the Japanese economy, as measured by GDP, grew only 1.14% annually, well below that of other industrialized nations.1</p><p><blockquote>从1991年到2003年，以GDP衡量的日本经济年增长率仅为1.14%，远低于其他工业化国家。</blockquote></p><p> <b>KEY TAKEAWAYS</b></p><p><blockquote><b>关键要点</b></blockquote></p><p> <ul>  <li>Japan's \"Lost Decade\" was a period that lasted from about 1991 to 2001 that saw a great slowdown in Japan's previously bustling economy.</li>  <li>The main causes of this economic slowdown were raising interest rates that set a liquidity trap at the same time that a credit crunch was unfolding.</li>  <li>The major lessons economies can take from Japan's \"Lost Decade\" include using available public funds to restructure banks' balance sheets and that sometimes the fear of inflation can cause stagnation.</li> </ul> Japan's equity andreal estatebubbles burst starting in the fall of 1989. Equity values plunged 60% from late 1989 to August 1992,2whileland valuesdropped throughout the 1990s, falling an incredible 70% by 2001.3</p><p><blockquote><ul><li>日本“失去的十年”是从1991年左右持续到2001年的一段时间，日本以前繁荣的经济大幅放缓。</li><li>经济放缓的主要原因是加息，在信贷紧缩展开的同时，加息造成了流动性陷阱。</li><li>各经济体可以从日本“失去的十年”中吸取的主要教训包括利用可用的公共资金重组银行资产负债表，以及有时对通胀的担忧会导致经济停滞。</li></ul>日本的股票和房地产泡沫从1989年秋天开始破裂。从1989年末到1992年8月，股票价值暴跌了60%，2而土地价值在整个20世纪90年代都在下跌，到2001年更是惊人地下跌了70%。</blockquote></p><p> <b>The Bank of Japan's Interest Rate Mistakes</b></p><p><blockquote><b>日本央行的利率失误</b></blockquote></p><p> It is generally acknowledged that theBank of Japan(BoJ), Japan'scentral bank, made several mistakes that may have added to and prolonged the negative effects of the bursting of the equity and real estate bubbles.</p><p><blockquote>人们普遍认为，日本央行（BoJ）犯了几个错误，这些错误可能加剧并延长了股票和房地产泡沫破裂的负面影响。</blockquote></p><p> For example, monetary policy was stop-and-go; concerned aboutinflationand asset prices, the Bank of Japan put the brakes on themoney supplyin the late 1980s, which may have contributed to the bursting of the equity bubble. Then, as equity values fell, the BoJ continued to raise interest rates because it remained concerned with still-appreciating real estate values.4</p><p><blockquote>例如，货币政策走走停停；出于对通货膨胀和资产价格的担忧，日本央行在20世纪80年代末抑制了货币供应，这可能导致了股票泡沫的破裂。然后，随着股票价值的下跌，日本央行继续提高利率，因为它仍然担心仍在升值的房地产价值。</blockquote></p><p> Higher interest rates contributed to the end of rising land prices, but they also helped the overall economy slide into a downward spiral. In 1991, as equity and land prices fell, the Bank of Japan dramatically reversed course and began to cut interest rates.5But it was too late, aliquiditytrap had already been set, and a credit crunch was setting in.</p><p><blockquote>较高的利率有助于结束土地价格上涨，但也帮助整体经济陷入螺旋式下降。1991年，随着股票和土地价格下跌，日本银行戏剧性地改变了方针，开始降息。5但为时已晚，流动性陷阱已经设置，信贷紧缩正在发生。</blockquote></p><p> <b>A Liquidity Trap</b></p><p><blockquote><b>流动性陷阱</b></blockquote></p><p> A liquidity trap is an economic scenario in which households and investors sit on cash; either in short-term accounts or literally as cash on hand.</p><p><blockquote>流动性陷阱是指家庭和投资者坐拥现金的经济情景；要么是短期账户，要么是手头现金。</blockquote></p><p> They might do this for a few reasons: they have no confidence that they can earn a higherrate of returnby investing, they believedeflationis on the horizon (cash will increase in value relative to fixed assets), or deflation already exists. All three reasons are highly correlated, and under such circumstances, household and investor beliefs become reality.</p><p><blockquote>他们这样做可能有几个原因：他们没有信心通过投资获得更高的回报率，他们相信通货紧缩即将到来（现金相对于固定资产的价值会增加），或者通货紧缩已经存在。这三个原因都是高度相关的，在这种情况下，家庭和投资者的信念成为现实。</blockquote></p><p> In a liquidity trap, low interest rates, as a matter ofmonetary policy, become ineffective. People and investors simply don't spend or invest. They believe goods and services will be cheaper tomorrow, so they wait to consume, and they believe they can earn a better return by simply sitting on their money than by investing it. The Bank of Japan'sdiscount ratewas 0.5% for much of the 1990s, but it failed to stimulate the Japanese economy, and deflation persisted.6</p><p><blockquote>在流动性陷阱中，低利率作为货币政策变得无效。人们和投资者根本不消费或投资。他们相信明天商品和服务会更便宜，所以他们等待消费，他们相信简单地坐拥资金比投资更能获得更好的回报。在20世纪90年代的大部分时间里，日本央行的贴现率为0.5%，但这未能刺激日本经济，通货紧缩持续存在。</blockquote></p><p> <b>Breaking Out of a Liquidity Trap</b></p><p><blockquote><b>打破流动性陷阱</b></blockquote></p><p> To break out of a liquidity trap, households and businesses have to be willing to spend and invest. One way of getting them to do so is throughfiscal policy. Governments can give money directly to consumers through reductions intax rates, issuances of tax rebates, and public spending.</p><p><blockquote>为了摆脱流动性陷阱，家庭和企业必须愿意支出和投资。让他们这样做的一种方法是通过财政政策。政府可以通过降低税率、发放退税和公共支出直接向消费者提供资金。</blockquote></p><p></p><p> Japan tried several fiscal policy measures to break out of its liquidity trap, but it is generally believed that these measures were not executed well—money was wasted on inefficient public works projects and given to failing businesses. Most economists agree that for fiscal stimulus policy to be effective, money must be allocated efficiently. In other words, let the market decide where to spend and invest by placing money directly in the hands of consumers. (For related reading, check out<i>What Is Fiscal Policy?</i>)</p><p><blockquote>日本尝试了几项财政政策措施以突破其流动性陷阱，但人们普遍认为这些措施执行得并不好——钱被浪费在效率低下的公共工程项目上，并被给予了失败的企业。大多数经济学家都认为，为了使财政刺激政策有效，必须有效地分配资金。换句话说，通过将钱直接放在消费者手中，让市场决定在哪里消费和投资。（相关阅读，请查看<i>什么是财政政策？</i>)</blockquote></p><p> Another way to break out of the liquidity trap is to \"re-inflate\" the economy by increasing the actual supply of money as opposed to targetingnominal interest rates. A central bank can inject money into an economy without regard for an established target interest rate (such as thefed funds ratein the U.S.) through the purchase ofgovernment bondsinopen-market operations.</p><p><blockquote>打破流动性陷阱的另一种方法是通过增加实际货币供应量来“重新膨胀”经济，而不是以名义利率为目标。央行可以通过在公开市场操作中购买政府债券，向经济注入资金，而无需考虑既定的目标利率（例如美国的联邦基金利率）。</blockquote></p><p> This is when a central bank purchases a bond, in which case it effectively exchanges it for cash, which increases the money supply. This is known as themonetizationof debt. (It should be noted that open-market operations are also used to attain and maintain target interest rates, but when a central bank monetizes the debt, it does so without regard for a target interest rate.) (To learn more, read<i>How do central banks inject money into the economy?</i>)</p><p><blockquote>这是指中央银行购买债券，在这种情况下，它实际上将其兑换成现金，从而增加货币供应量。这就是所谓的债务货币化。（应该注意的是，公开市场操作也用于实现和维持目标利率，但当央行将债务货币化时，它是在不考虑目标利率的情况下这样做的。）（要了解更多信息，请阅读<i>央行如何向经济注入资金？</i>)</blockquote></p><p> In 2001, the Bank of Japan began to target the money supply instead of interest rates, which helped to moderate deflation and stimulateeconomic growth.5 However, when a central bank injects money into thefinancial system, banks are left with more money on hand, but also must be willing to lend that money out. This brings us to the next problem Japan faced: a credit crunch.</p><p><blockquote>2001年，日本央行开始以货币供应量而不是利率为目标，这有助于缓解通货紧缩并刺激经济增长。5然而，当央行向金融体系注入资金时，银行手头会有更多的资金，但也必须愿意将这些钱借出去。这给我们带来了日本面临的下一个问题：信贷紧缩。</blockquote></p><p> <b>Credit Crunch</b></p><p><blockquote><b>信贷紧缩</b></blockquote></p><p> A credit crunch is an economic scenario in which banks have tightened lending requirements and for the most part, do not lend.</p><p><blockquote>信贷紧缩是一种经济情况，在这种情况下，银行收紧了贷款要求，并且在大多数情况下不放贷。</blockquote></p><p> They may not lend for several reasons, including: 1) the need to hold onto reserves in order repair theirbalance sheetsafter suffering loses, which happened to Japanese banks that had invested heavily in real estate, and 2) there might be a generalpullbackin risk-taking, which happened in the United States in 2007 and 2008 asfinancial institutionsthat initially suffered losses related tosubprime mortgagelending pulled back in all types of lending, deleveraged their balance sheets, and generally sought to reduce their levels of risk in all areas.</p><p><blockquote>他们可能出于几个原因不放贷，包括：1）在遭受损失后需要持有准备金以修复资产负债表，这发生在大量投资房地产的日本银行身上；2）风险承担可能会普遍回落，2007年和2008年美国就发生了这种情况，最初遭受次级抵押贷款相关损失的金融机构减少了所有类型的贷款，去杠杆化了资产负债表，并普遍寻求降低所有领域的风险水平。</blockquote></p><p> Calculated risk-taking and lending is the life-blood of afree marketeconomy. When capital is put to work, jobs are created, spending increases, efficiencies are discovered (productivity increases), and the economy grows. On the other hand, when banks are reluctant to lend, it is difficult for the economy to grow.</p><p><blockquote>有计划的风险承担和借贷是自由市场经济的命脉。当资本投入工作时，就业机会被创造出来，支出增加，效率被发现（生产率提高），经济增长。另一方面，当银行惜贷时，经济就难以增长。</blockquote></p><p> In the same manner that a liquidity trap leads to deflation, a credit crunch is also conducive to deflation as banks are unwilling to lend, and therefore consumers and businesses are unable to spend, causing prices to fall.</p><p><blockquote>正如流动性陷阱导致通货紧缩一样，信贷紧缩也有利于通货紧缩，因为银行不愿意放贷，因此消费者和企业无法消费，导致价格下跌。</blockquote></p><p> <b>Solutions to a Credit Crunch</b></p><p><blockquote><b>信贷紧缩的解决方案</b></blockquote></p><p> Japan also suffered from a credit crunch in the 1990s and Japanese banks were slow to take losses. Even though public funds were made available to banks to restructure their balance sheets, they failed to do so because of the fear of stigma associated with revealing long-concealed losses and the fear of losing control to foreign investors.7 To break out of a credit crunch, bank losses must be recognized, the banking system must be transparent, and banks must gain confidence in their ability to assess and manage risk.</p><p><blockquote>日本在20世纪90年代也遭受了信贷紧缩，日本银行承担损失的速度很慢。尽管向银行提供了公共资金来重组其资产负债表，但它们未能这样做，因为担心披露长期隐瞒的损失会带来耻辱，担心失去对外国投资者的控制权。7为了摆脱信贷紧缩，必须承认银行损失，银行系统必须透明，银行必须对其评估和管理风险的能力充满信心。</blockquote></p><p> Clearly, deflation causes a lot of problems. When asset prices are falling, households and investors hoard cash because cash will be worth more tomorrow than it is today. This creates a liquidity trap. When asset prices fall, the value ofcollateralbacking loans falls, which in turn leads to bank losses. When banks suffer losses, they stop lending, creating a credit crunch.</p><p><blockquote>显然，通货紧缩会导致很多问题。当资产价格下跌时，家庭和投资者会囤积现金，因为现金明天会比今天更值钱。这就造成了流动性陷阱。当资产价格下跌时，抵押品支持贷款的价值就会下降，进而导致银行损失。当银行遭受损失时，它们会停止放贷，从而造成信贷紧缩。</blockquote></p><p> Most of the time, we think ofinflationas a very bad economic problem, which it can be, but re-inflating an economy might be precisely what is needed to avoid prolonged periods of slow growth such as what Japan experienced in the 1990s.</p><p><blockquote>大多数时候，我们认为通货膨胀是一个非常严重的经济问题，事实也确实如此，但经济重新通胀可能正是避免日本在20世纪90年代经历的长期缓慢增长所需要的。</blockquote></p><p> The problem is that re-inflating an economy isn't easy, especially when banks are unwilling to lend. Notable American economistMilton Friedmansuggested that the way to avoid a liquidity trap is by bypassingfinancial intermediariesand giving money directly to individuals to spend. This is known as \"helicopter money,\" because the theory is that a central bank could literally drop money from a helicopter.8 This also suggests that regardless of which country you live in, life is all about being in the right place at the right time.</p><p><blockquote>问题是让经济重新膨胀并不容易，尤其是在银行不愿意放贷的情况下。美国著名经济学家米尔顿·弗里德曼提出，避免流动性陷阱的方法是绕过金融中介，直接将钱交给个人消费。这被称为“直升机撒钱”，因为该理论认为中央银行可以从直升机上投放资金。8这也表明，无论你生活在哪个国家，生活就是在正确的时间出现在正确的地点。</blockquote></p><p></p>","source":"lsy1606203311635","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Lost Decade: Lessons From Japan's Real Estate Crisis<blockquote>失去的十年：日本房地产危机的教训</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Lost Decade: Lessons From Japan's Real Estate Crisis<blockquote>失去的十年：日本房地产危机的教训</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">investopedia</strong><span class=\"h-time small\">2021-06-30 09:30</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>What Was Japan's \"Lost Decade\" Real Estate Crisis?</b></p><p><blockquote><b>日本“失去的十年”房地产危机是什么？</b></blockquote></p><p> Free markets economies are subject tocycles.Economic cyclesconsist of fluctuating periods of economic expansion andcontractionas measured by a nation'sgross domestic product(GDP).</p><p><blockquote>自由市场经济受到周期的影响。经济周期由以一个国家的国内生产总值（GDP）衡量的经济扩张和收缩的波动时期组成。</blockquote></p><p> The length of economic cycles (periods of expansion vs. contraction) can vary greatly. The traditional measure of an economicrecessionis two or more consecutive quarters of falling gross domestic product. There are also economic depressions, which are extended periods of economic contraction such as theGreat Depressionof the 1930s.</p><p><blockquote>经济周期的长度（扩张期与收缩期）可能会有很大差异。经济衰退的传统衡量标准是国内生产总值连续两个或两个以上季度下降。还有经济萧条，即长期的经济收缩，例如20世纪30年代的大萧条。</blockquote></p><p> From 1991 through 2001, Japan experienced a period of economicstagnationand price deflation known as \"Japan'sLost Decade.\" While the Japanese economy outgrew this period, it did so at a much slower pace than other industrialized nations. During this period, the Japanese economy suffered from both acredit crunchand aliquidity trap.</p><p><blockquote>从1991年到2001年，日本经历了一段被称为“日本失去的十年”的经济停滞和物价通缩时期。虽然日本经济增长超过了这一时期，但其增长速度比其他工业化国家慢得多。在此期间，日本经济遭受了信贷紧缩和流动性陷阱。</blockquote></p><p> Understanding Japan's \"Lost Decade\" Real Estate CrisisJapan's Lost Decade</p><p><blockquote>了解日本“失去的十年”房地产危机日本失去的十年</blockquote></p><p> Japan's economy was the envy of the world in the 1980s—it grew at an average annual rate (as measured by GDP) of 3.89% in the 1980s, compared to 3.07% in the United States.1But Japan's economy ran into troubles in the 1990s.</p><p><blockquote>日本经济在20世纪80年代令世界羡慕——20世纪80年代的年均增长率（以GDP衡量）为3.89%，而美国为3.07%。1但日本经济在20世纪90年代陷入了困境。</blockquote></p><p> From 1991 to 2003, the Japanese economy, as measured by GDP, grew only 1.14% annually, well below that of other industrialized nations.1</p><p><blockquote>从1991年到2003年，以GDP衡量的日本经济年增长率仅为1.14%，远低于其他工业化国家。</blockquote></p><p> <b>KEY TAKEAWAYS</b></p><p><blockquote><b>关键要点</b></blockquote></p><p> <ul>  <li>Japan's \"Lost Decade\" was a period that lasted from about 1991 to 2001 that saw a great slowdown in Japan's previously bustling economy.</li>  <li>The main causes of this economic slowdown were raising interest rates that set a liquidity trap at the same time that a credit crunch was unfolding.</li>  <li>The major lessons economies can take from Japan's \"Lost Decade\" include using available public funds to restructure banks' balance sheets and that sometimes the fear of inflation can cause stagnation.</li> </ul> Japan's equity andreal estatebubbles burst starting in the fall of 1989. Equity values plunged 60% from late 1989 to August 1992,2whileland valuesdropped throughout the 1990s, falling an incredible 70% by 2001.3</p><p><blockquote><ul><li>日本“失去的十年”是从1991年左右持续到2001年的一段时间，日本以前繁荣的经济大幅放缓。</li><li>经济放缓的主要原因是加息，在信贷紧缩展开的同时，加息造成了流动性陷阱。</li><li>各经济体可以从日本“失去的十年”中吸取的主要教训包括利用可用的公共资金重组银行资产负债表，以及有时对通胀的担忧会导致经济停滞。</li></ul>日本的股票和房地产泡沫从1989年秋天开始破裂。从1989年末到1992年8月，股票价值暴跌了60%，2而土地价值在整个20世纪90年代都在下跌，到2001年更是惊人地下跌了70%。</blockquote></p><p> <b>The Bank of Japan's Interest Rate Mistakes</b></p><p><blockquote><b>日本央行的利率失误</b></blockquote></p><p> It is generally acknowledged that theBank of Japan(BoJ), Japan'scentral bank, made several mistakes that may have added to and prolonged the negative effects of the bursting of the equity and real estate bubbles.</p><p><blockquote>人们普遍认为，日本央行（BoJ）犯了几个错误，这些错误可能加剧并延长了股票和房地产泡沫破裂的负面影响。</blockquote></p><p> For example, monetary policy was stop-and-go; concerned aboutinflationand asset prices, the Bank of Japan put the brakes on themoney supplyin the late 1980s, which may have contributed to the bursting of the equity bubble. Then, as equity values fell, the BoJ continued to raise interest rates because it remained concerned with still-appreciating real estate values.4</p><p><blockquote>例如，货币政策走走停停；出于对通货膨胀和资产价格的担忧，日本央行在20世纪80年代末抑制了货币供应，这可能导致了股票泡沫的破裂。然后，随着股票价值的下跌，日本央行继续提高利率，因为它仍然担心仍在升值的房地产价值。</blockquote></p><p> Higher interest rates contributed to the end of rising land prices, but they also helped the overall economy slide into a downward spiral. In 1991, as equity and land prices fell, the Bank of Japan dramatically reversed course and began to cut interest rates.5But it was too late, aliquiditytrap had already been set, and a credit crunch was setting in.</p><p><blockquote>较高的利率有助于结束土地价格上涨，但也帮助整体经济陷入螺旋式下降。1991年，随着股票和土地价格下跌，日本银行戏剧性地改变了方针，开始降息。5但为时已晚，流动性陷阱已经设置，信贷紧缩正在发生。</blockquote></p><p> <b>A Liquidity Trap</b></p><p><blockquote><b>流动性陷阱</b></blockquote></p><p> A liquidity trap is an economic scenario in which households and investors sit on cash; either in short-term accounts or literally as cash on hand.</p><p><blockquote>流动性陷阱是指家庭和投资者坐拥现金的经济情景；要么是短期账户，要么是手头现金。</blockquote></p><p> They might do this for a few reasons: they have no confidence that they can earn a higherrate of returnby investing, they believedeflationis on the horizon (cash will increase in value relative to fixed assets), or deflation already exists. All three reasons are highly correlated, and under such circumstances, household and investor beliefs become reality.</p><p><blockquote>他们这样做可能有几个原因：他们没有信心通过投资获得更高的回报率，他们相信通货紧缩即将到来（现金相对于固定资产的价值会增加），或者通货紧缩已经存在。这三个原因都是高度相关的，在这种情况下，家庭和投资者的信念成为现实。</blockquote></p><p> In a liquidity trap, low interest rates, as a matter ofmonetary policy, become ineffective. People and investors simply don't spend or invest. They believe goods and services will be cheaper tomorrow, so they wait to consume, and they believe they can earn a better return by simply sitting on their money than by investing it. The Bank of Japan'sdiscount ratewas 0.5% for much of the 1990s, but it failed to stimulate the Japanese economy, and deflation persisted.6</p><p><blockquote>在流动性陷阱中，低利率作为货币政策变得无效。人们和投资者根本不消费或投资。他们相信明天商品和服务会更便宜，所以他们等待消费，他们相信简单地坐拥资金比投资更能获得更好的回报。在20世纪90年代的大部分时间里，日本央行的贴现率为0.5%，但这未能刺激日本经济，通货紧缩持续存在。</blockquote></p><p> <b>Breaking Out of a Liquidity Trap</b></p><p><blockquote><b>打破流动性陷阱</b></blockquote></p><p> To break out of a liquidity trap, households and businesses have to be willing to spend and invest. One way of getting them to do so is throughfiscal policy. Governments can give money directly to consumers through reductions intax rates, issuances of tax rebates, and public spending.</p><p><blockquote>为了摆脱流动性陷阱，家庭和企业必须愿意支出和投资。让他们这样做的一种方法是通过财政政策。政府可以通过降低税率、发放退税和公共支出直接向消费者提供资金。</blockquote></p><p></p><p> Japan tried several fiscal policy measures to break out of its liquidity trap, but it is generally believed that these measures were not executed well—money was wasted on inefficient public works projects and given to failing businesses. Most economists agree that for fiscal stimulus policy to be effective, money must be allocated efficiently. In other words, let the market decide where to spend and invest by placing money directly in the hands of consumers. (For related reading, check out<i>What Is Fiscal Policy?</i>)</p><p><blockquote>日本尝试了几项财政政策措施以突破其流动性陷阱，但人们普遍认为这些措施执行得并不好——钱被浪费在效率低下的公共工程项目上，并被给予了失败的企业。大多数经济学家都认为，为了使财政刺激政策有效，必须有效地分配资金。换句话说，通过将钱直接放在消费者手中，让市场决定在哪里消费和投资。（相关阅读，请查看<i>什么是财政政策？</i>)</blockquote></p><p> Another way to break out of the liquidity trap is to \"re-inflate\" the economy by increasing the actual supply of money as opposed to targetingnominal interest rates. A central bank can inject money into an economy without regard for an established target interest rate (such as thefed funds ratein the U.S.) through the purchase ofgovernment bondsinopen-market operations.</p><p><blockquote>打破流动性陷阱的另一种方法是通过增加实际货币供应量来“重新膨胀”经济，而不是以名义利率为目标。央行可以通过在公开市场操作中购买政府债券，向经济注入资金，而无需考虑既定的目标利率（例如美国的联邦基金利率）。</blockquote></p><p> This is when a central bank purchases a bond, in which case it effectively exchanges it for cash, which increases the money supply. This is known as themonetizationof debt. (It should be noted that open-market operations are also used to attain and maintain target interest rates, but when a central bank monetizes the debt, it does so without regard for a target interest rate.) (To learn more, read<i>How do central banks inject money into the economy?</i>)</p><p><blockquote>这是指中央银行购买债券，在这种情况下，它实际上将其兑换成现金，从而增加货币供应量。这就是所谓的债务货币化。（应该注意的是，公开市场操作也用于实现和维持目标利率，但当央行将债务货币化时，它是在不考虑目标利率的情况下这样做的。）（要了解更多信息，请阅读<i>央行如何向经济注入资金？</i>)</blockquote></p><p> In 2001, the Bank of Japan began to target the money supply instead of interest rates, which helped to moderate deflation and stimulateeconomic growth.5 However, when a central bank injects money into thefinancial system, banks are left with more money on hand, but also must be willing to lend that money out. This brings us to the next problem Japan faced: a credit crunch.</p><p><blockquote>2001年，日本央行开始以货币供应量而不是利率为目标，这有助于缓解通货紧缩并刺激经济增长。5然而，当央行向金融体系注入资金时，银行手头会有更多的资金，但也必须愿意将这些钱借出去。这给我们带来了日本面临的下一个问题：信贷紧缩。</blockquote></p><p> <b>Credit Crunch</b></p><p><blockquote><b>信贷紧缩</b></blockquote></p><p> A credit crunch is an economic scenario in which banks have tightened lending requirements and for the most part, do not lend.</p><p><blockquote>信贷紧缩是一种经济情况，在这种情况下，银行收紧了贷款要求，并且在大多数情况下不放贷。</blockquote></p><p> They may not lend for several reasons, including: 1) the need to hold onto reserves in order repair theirbalance sheetsafter suffering loses, which happened to Japanese banks that had invested heavily in real estate, and 2) there might be a generalpullbackin risk-taking, which happened in the United States in 2007 and 2008 asfinancial institutionsthat initially suffered losses related tosubprime mortgagelending pulled back in all types of lending, deleveraged their balance sheets, and generally sought to reduce their levels of risk in all areas.</p><p><blockquote>他们可能出于几个原因不放贷，包括：1）在遭受损失后需要持有准备金以修复资产负债表，这发生在大量投资房地产的日本银行身上；2）风险承担可能会普遍回落，2007年和2008年美国就发生了这种情况，最初遭受次级抵押贷款相关损失的金融机构减少了所有类型的贷款，去杠杆化了资产负债表，并普遍寻求降低所有领域的风险水平。</blockquote></p><p> Calculated risk-taking and lending is the life-blood of afree marketeconomy. When capital is put to work, jobs are created, spending increases, efficiencies are discovered (productivity increases), and the economy grows. On the other hand, when banks are reluctant to lend, it is difficult for the economy to grow.</p><p><blockquote>有计划的风险承担和借贷是自由市场经济的命脉。当资本投入工作时，就业机会被创造出来，支出增加，效率被发现（生产率提高），经济增长。另一方面，当银行惜贷时，经济就难以增长。</blockquote></p><p> In the same manner that a liquidity trap leads to deflation, a credit crunch is also conducive to deflation as banks are unwilling to lend, and therefore consumers and businesses are unable to spend, causing prices to fall.</p><p><blockquote>正如流动性陷阱导致通货紧缩一样，信贷紧缩也有利于通货紧缩，因为银行不愿意放贷，因此消费者和企业无法消费，导致价格下跌。</blockquote></p><p> <b>Solutions to a Credit Crunch</b></p><p><blockquote><b>信贷紧缩的解决方案</b></blockquote></p><p> Japan also suffered from a credit crunch in the 1990s and Japanese banks were slow to take losses. Even though public funds were made available to banks to restructure their balance sheets, they failed to do so because of the fear of stigma associated with revealing long-concealed losses and the fear of losing control to foreign investors.7 To break out of a credit crunch, bank losses must be recognized, the banking system must be transparent, and banks must gain confidence in their ability to assess and manage risk.</p><p><blockquote>日本在20世纪90年代也遭受了信贷紧缩，日本银行承担损失的速度很慢。尽管向银行提供了公共资金来重组其资产负债表，但它们未能这样做，因为担心披露长期隐瞒的损失会带来耻辱，担心失去对外国投资者的控制权。7为了摆脱信贷紧缩，必须承认银行损失，银行系统必须透明，银行必须对其评估和管理风险的能力充满信心。</blockquote></p><p> Clearly, deflation causes a lot of problems. When asset prices are falling, households and investors hoard cash because cash will be worth more tomorrow than it is today. This creates a liquidity trap. When asset prices fall, the value ofcollateralbacking loans falls, which in turn leads to bank losses. When banks suffer losses, they stop lending, creating a credit crunch.</p><p><blockquote>显然，通货紧缩会导致很多问题。当资产价格下跌时，家庭和投资者会囤积现金，因为现金明天会比今天更值钱。这就造成了流动性陷阱。当资产价格下跌时，抵押品支持贷款的价值就会下降，进而导致银行损失。当银行遭受损失时，它们会停止放贷，从而造成信贷紧缩。</blockquote></p><p> Most of the time, we think ofinflationas a very bad economic problem, which it can be, but re-inflating an economy might be precisely what is needed to avoid prolonged periods of slow growth such as what Japan experienced in the 1990s.</p><p><blockquote>大多数时候，我们认为通货膨胀是一个非常严重的经济问题，事实也确实如此，但经济重新通胀可能正是避免日本在20世纪90年代经历的长期缓慢增长所需要的。</blockquote></p><p> The problem is that re-inflating an economy isn't easy, especially when banks are unwilling to lend. Notable American economistMilton Friedmansuggested that the way to avoid a liquidity trap is by bypassingfinancial intermediariesand giving money directly to individuals to spend. This is known as \"helicopter money,\" because the theory is that a central bank could literally drop money from a helicopter.8 This also suggests that regardless of which country you live in, life is all about being in the right place at the right time.</p><p><blockquote>问题是让经济重新膨胀并不容易，尤其是在银行不愿意放贷的情况下。美国著名经济学家米尔顿·弗里德曼提出，避免流动性陷阱的方法是绕过金融中介，直接将钱交给个人消费。这被称为“直升机撒钱”，因为该理论认为中央银行可以从直升机上投放资金。8这也表明，无论你生活在哪个国家，生活就是在正确的时间出现在正确的地点。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.investopedia.com/articles/economics/08/japan-1990s-credit-crunch-liquidity-trap.asp?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral\">investopedia</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.investopedia.com/articles/economics/08/japan-1990s-credit-crunch-liquidity-trap.asp?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1160246970","content_text":"What Was Japan's \"Lost Decade\" Real Estate Crisis?\nFree markets economies are subject tocycles.Economic cyclesconsist of fluctuating periods of economic expansion andcontractionas measured by a nation'sgross domestic product(GDP).\nThe length of economic cycles (periods of expansion vs. contraction) can vary greatly. The traditional measure of an economicrecessionis two or more consecutive quarters of falling gross domestic product. There are also economic depressions, which are extended periods of economic contraction such as theGreat Depressionof the 1930s.\nFrom 1991 through 2001, Japan experienced a period of economicstagnationand price deflation known as \"Japan'sLost Decade.\" While the Japanese economy outgrew this period, it did so at a much slower pace than other industrialized nations. During this period, the Japanese economy suffered from both acredit crunchand aliquidity trap.\nUnderstanding Japan's \"Lost Decade\" Real Estate CrisisJapan's Lost Decade\nJapan's economy was the envy of the world in the 1980s—it grew at an average annual rate (as measured by GDP) of 3.89% in the 1980s, compared to 3.07% in the United States.1But Japan's economy ran into troubles in the 1990s.\nFrom 1991 to 2003, the Japanese economy, as measured by GDP, grew only 1.14% annually, well below that of other industrialized nations.1\nKEY TAKEAWAYS\n\nJapan's \"Lost Decade\" was a period that lasted from about 1991 to 2001 that saw a great slowdown in Japan's previously bustling economy.\nThe main causes of this economic slowdown were raising interest rates that set a liquidity trap at the same time that a credit crunch was unfolding.\nThe major lessons economies can take from Japan's \"Lost Decade\" include using available public funds to restructure banks' balance sheets and that sometimes the fear of inflation can cause stagnation.\n\nJapan's equity andreal estatebubbles burst starting in the fall of 1989. Equity values plunged 60% from late 1989 to August 1992,2whileland valuesdropped throughout the 1990s, falling an incredible 70% by 2001.3\nThe Bank of Japan's Interest Rate Mistakes\nIt is generally acknowledged that theBank of Japan(BoJ), Japan'scentral bank, made several mistakes that may have added to and prolonged the negative effects of the bursting of the equity and real estate bubbles.\nFor example, monetary policy was stop-and-go; concerned aboutinflationand asset prices, the Bank of Japan put the brakes on themoney supplyin the late 1980s, which may have contributed to the bursting of the equity bubble. Then, as equity values fell, the BoJ continued to raise interest rates because it remained concerned with still-appreciating real estate values.4\nHigher interest rates contributed to the end of rising land prices, but they also helped the overall economy slide into a downward spiral. In 1991, as equity and land prices fell, the Bank of Japan dramatically reversed course and began to cut interest rates.5But it was too late, aliquiditytrap had already been set, and a credit crunch was setting in.\nA Liquidity Trap\nA liquidity trap is an economic scenario in which households and investors sit on cash; either in short-term accounts or literally as cash on hand.\nThey might do this for a few reasons: they have no confidence that they can earn a higherrate of returnby investing, they believedeflationis on the horizon (cash will increase in value relative to fixed assets), or deflation already exists. All three reasons are highly correlated, and under such circumstances, household and investor beliefs become reality.\nIn a liquidity trap, low interest rates, as a matter ofmonetary policy, become ineffective. People and investors simply don't spend or invest. They believe goods and services will be cheaper tomorrow, so they wait to consume, and they believe they can earn a better return by simply sitting on their money than by investing it. The Bank of Japan'sdiscount ratewas 0.5% for much of the 1990s, but it failed to stimulate the Japanese economy, and deflation persisted.6\nBreaking Out of a Liquidity Trap\nTo break out of a liquidity trap, households and businesses have to be willing to spend and invest. One way of getting them to do so is throughfiscal policy. Governments can give money directly to consumers through reductions intax rates, issuances of tax rebates, and public spending.\nJapan tried several fiscal policy measures to break out of its liquidity trap, but it is generally believed that these measures were not executed well—money was wasted on inefficient public works projects and given to failing businesses. Most economists agree that for fiscal stimulus policy to be effective, money must be allocated efficiently. In other words, let the market decide where to spend and invest by placing money directly in the hands of consumers. (For related reading, check outWhat Is Fiscal Policy?)\nAnother way to break out of the liquidity trap is to \"re-inflate\" the economy by increasing the actual supply of money as opposed to targetingnominal interest rates. A central bank can inject money into an economy without regard for an established target interest rate (such as thefed funds ratein the U.S.) through the purchase ofgovernment bondsinopen-market operations.\nThis is when a central bank purchases a bond, in which case it effectively exchanges it for cash, which increases the money supply. This is known as themonetizationof debt. (It should be noted that open-market operations are also used to attain and maintain target interest rates, but when a central bank monetizes the debt, it does so without regard for a target interest rate.) (To learn more, readHow do central banks inject money into the economy?)\nIn 2001, the Bank of Japan began to target the money supply instead of interest rates, which helped to moderate deflation and stimulateeconomic growth.5 However, when a central bank injects money into thefinancial system, banks are left with more money on hand, but also must be willing to lend that money out. This brings us to the next problem Japan faced: a credit crunch.\nCredit Crunch\nA credit crunch is an economic scenario in which banks have tightened lending requirements and for the most part, do not lend.\nThey may not lend for several reasons, including: 1) the need to hold onto reserves in order repair theirbalance sheetsafter suffering loses, which happened to Japanese banks that had invested heavily in real estate, and 2) there might be a generalpullbackin risk-taking, which happened in the United States in 2007 and 2008 asfinancial institutionsthat initially suffered losses related tosubprime mortgagelending pulled back in all types of lending, deleveraged their balance sheets, and generally sought to reduce their levels of risk in all areas.\nCalculated risk-taking and lending is the life-blood of afree marketeconomy. When capital is put to work, jobs are created, spending increases, efficiencies are discovered (productivity increases), and the economy grows. On the other hand, when banks are reluctant to lend, it is difficult for the economy to grow.\nIn the same manner that a liquidity trap leads to deflation, a credit crunch is also conducive to deflation as banks are unwilling to lend, and therefore consumers and businesses are unable to spend, causing prices to fall.\nSolutions to a Credit Crunch\nJapan also suffered from a credit crunch in the 1990s and Japanese banks were slow to take losses. Even though public funds were made available to banks to restructure their balance sheets, they failed to do so because of the fear of stigma associated with revealing long-concealed losses and the fear of losing control to foreign investors.7 To break out of a credit crunch, bank losses must be recognized, the banking system must be transparent, and banks must gain confidence in their ability to assess and manage risk.\nClearly, deflation causes a lot of problems. When asset prices are falling, households and investors hoard cash because cash will be worth more tomorrow than it is today. This creates a liquidity trap. When asset prices fall, the value ofcollateralbacking loans falls, which in turn leads to bank losses. When banks suffer losses, they stop lending, creating a credit crunch.\nMost of the time, we think ofinflationas a very bad economic problem, which it can be, but re-inflating an economy might be precisely what is needed to avoid prolonged periods of slow growth such as what Japan experienced in the 1990s.\nThe problem is that re-inflating an economy isn't easy, especially when banks are unwilling to lend. Notable American economistMilton Friedmansuggested that the way to avoid a liquidity trap is by bypassingfinancial intermediariesand giving money directly to individuals to spend. This is known as \"helicopter money,\" because the theory is that a central bank could literally drop money from a helicopter.8 This also suggests that regardless of which country you live in, life is all about being in the right place at the right time.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1169,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167141873,"gmtCreate":1624254719892,"gmtModify":1631894050996,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3563007583951606","authorIdStr":"3563007583951606"},"themes":[],"htmlText":"Tell me your opinion about this news...","listText":"Tell me your opinion about this news...","text":"Tell me your opinion about this news...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/167141873","repostId":"1151664333","repostType":4,"isVote":1,"tweetType":1,"viewCount":1948,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167143565,"gmtCreate":1624254648157,"gmtModify":1631894051012,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3563007583951606","authorIdStr":"3563007583951606"},"themes":[],"htmlText":"Let it flow","listText":"Let it flow","text":"Let it flow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/167143565","repostId":"1151664333","repostType":4,"isVote":1,"tweetType":1,"viewCount":1557,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166830333,"gmtCreate":1624000537522,"gmtModify":1631894051045,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3563007583951606","authorIdStr":"3563007583951606"},"themes":[],"htmlText":"Easy to say, hard to apply","listText":"Easy to say, hard to apply","text":"Easy to say, hard to apply","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166830333","repostId":"2144745081","repostType":4,"repost":{"id":"2144745081","kind":"highlight","pubTimestamp":1623999815,"share":"https://www.laohu8.com/m/news/2144745081?lang=zh_CN&edition=full","pubTime":"2021-06-18 15:03","market":"us","language":"en","title":"Looking for hedges against inflation? Try Apple, Nike, Verizon and stocks with this in common, strategists say<blockquote>寻找通胀对冲工具？策略师表示，尝试苹果、Nike、Verizon和具有此共同点的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2144745081","media":"MarketWatch","summary":"Stocks are set for a poor performance on Thursday, as markets absorb the Federal Reserve's indicatio","content":"<p>Stocks are set for a poor performance on Thursday, as markets absorb the Federal Reserve's indication that interest rate increases are coming sooner than expected, while the central bank remains alert to inflation risks.</p><p><blockquote>周四股市将表现不佳，因为市场吸收了美联储加息时间快于预期的迹象，同时央行仍对通胀风险保持警惕。</blockquote></p><p> \"There is probably no bigger macro issue, both tactically and strategically, than inflation and what this means for portfolios,\" said strategists led by Inigo Fraser Jenkins at Bernstein Research on Thursday.</p><p><blockquote>伯恩斯坦研究公司Inigo Fraser Jenkins领导的策略师周四表示：“无论是战术上还是战略上，可能没有比通胀及其对投资组合的意义更大的宏观问题了。”</blockquote></p><p> Fraser Jenkins and his team have our call of the day: that investors should look to buy shares in companies with a long maturity of debt as an effective hedge against inflation.</p><p><blockquote>Fraser Jenkins和他的团队提出了我们当今的看涨期权：投资者应该购买债务期限较长的公司的股票，作为对冲通胀的有效手段。</blockquote></p><p> Companies issued debt at an astounding rate through the COVID-19 pandemic. Much of it was a necessary move to meet funding needs, but for some groups it was an opportunity to take advantage of the Fed's measures supporting credit markets, which provided an ability to increase the maturity of debt, the strategists said.</p><p><blockquote>公司通过COVID-19大流行以惊人的速度发行债务。策略师表示，这在很大程度上是满足融资需求的必要举措，但对一些群体来说，这是一个利用美联储支持信贷市场措施的机会，这些措施提供了延长债务期限的能力。</blockquote></p><p> According to the team at Bernstein, for companies that have long maturity of debt, have issued fixed-rate debt, and are going concerns -- i.e. can continue operating while meeting financial obligations -- inflation could be a positive thing. \"Inflation would erode the real value of the debt relative to earnings (which are tied to the real economy),\" the strategists said.</p><p><blockquote>伯恩斯坦的团队表示，对于债务期限较长、已发行固定利率债务且持续经营（即可以在履行财务义务的同时继续运营）的公司来说，通货膨胀可能是一件积极的事情。策略师表示：“通胀将侵蚀债务相对于收益（与实体经济挂钩）的实际价值。”</blockquote></p><p> \"There is no one solution\" to finding suitable hedges for inflation, Fraser Jenkins' group said, noting that a good response may involve more equities, real assets, gold, and even crypto assets like bitcoin . But \"another possible string to the inflation-hedging bow\" is companies that emerge from the pandemic with a long maturity of debt.</p><p><blockquote>Fraser Jenkins的团队表示，寻找合适的通胀对冲工具“没有单一的解决方案”，并指出良好的应对措施可能涉及更多股票、实物资产、黄金，甚至比特币等加密资产。但“通胀对冲弓的另一个可能的弦”是那些从疫情中走出来、债务期限较长的公司。</blockquote></p><p> \"A basket of U.S. long debt maturity stocks has outperformed a basket of short debt maturity stocks by 7% this year and trades at more attractive valuations than their short debt maturity peers,\" Fraser Jenkins and his team added.</p><p><blockquote>Fraser Jenkins和他的团队补充道：“今年一篮子美国长期债务到期股票的表现优于一篮子短期债务到期股票7%，并且其估值比短期债务到期股票更具吸引力。”</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1aca07448aa8168cf9edc9e49d933435\" tg-width=\"1260\" tg-height=\"672\" referrerpolicy=\"no-referrer\"><span>CHART VIA BERNSTEIN RESEARCH.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图表来自伯恩斯坦研究。</span></p></blockquote></p><p> There are a lot of these stocks: the strategists at Bernstein have a list of more than 80. Some of those picks include Big Tech names Apple <a href=\"https://laohu8.com/S/AAPL\">$(AAPL)$</a>, Alphabet <a href=\"https://laohu8.com/S/GOOGL\">$(GOOGL)$</a>(GOOGL), Amazon <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>, and Microsoft <a href=\"https://laohu8.com/S/MSFT\">$(MSFT)$</a>, as well as other technology companies like videogame developer Electronic Arts <a href=\"https://laohu8.com/S/EA\">$(EA)$</a> and semiconductor groups Nvidia <a href=\"https://laohu8.com/S/NVDA\">$(NVDA)$</a>, Texas Instruments <a href=\"https://laohu8.com/S/TXN\">$(TXN)$</a>, and Qualcomm <a href=\"https://laohu8.com/S/QCOM\">$(QCOM)$</a>.</p><p><blockquote>这些股票有很多：伯恩斯坦的策略师列出了80多只股票。其中一些选择包括大型科技公司苹果<a href=\"https://laohu8.com/S/AAPL\">$(AAPL)$</a>, Alphabet<a href=\"https://laohu8.com/S/GOOGL\">$（GOOGL）$</a>（GOOGL）、亚马逊<a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>，和微软<a href=\"https://laohu8.com/S/MSFT\">$(MSFT)$</a>，以及视频游戏开发商艺电等其他科技公司<a href=\"https://laohu8.com/S/EA\">$(EA)$</a>和半导体集团英伟达<a href=\"https://laohu8.com/S/NVDA\">$(NVDA)$</a>,德州仪器<a href=\"https://laohu8.com/S/TXN\">$(TXN)$</a>，和高通<a href=\"https://laohu8.com/S/QCOM\">$(QCOM)$</a>.</blockquote></p><p> Telecom giants AT&amp;T <a href=\"https://laohu8.com/S/T\">$(T)$</a> and Verizon <a href=\"https://laohu8.com/S/VZ\">$(VZ)$</a> are also on the list, as are retailers and consumer-products groups such as Home Depot <a href=\"https://laohu8.com/S/HD\">$(HD)$</a>, Target <a href=\"https://laohu8.com/S/TGT\">$(TGT)$</a>, McDonalds <a href=\"https://laohu8.com/S/MCD\">$(MCD)$</a>, Starbucks <a href=\"https://laohu8.com/S/SBUX\">$(SBUX)$</a>, Nike <a href=\"https://laohu8.com/S/NKE\">$(NKE)$</a>, Kraft Heinz <a href=\"https://laohu8.com/S/KHC\">$(KHC)$</a>, Estée Lauder <a href=\"https://laohu8.com/S/EL\">$(EL)$</a>, and Coca-Cola <a href=\"https://laohu8.com/S/KO\">$(KO)$</a>.</p><p><blockquote>电信巨头AT&amp;T<a href=\"https://laohu8.com/S/T\">$(T)$</a>和威瑞森<a href=\"https://laohu8.com/S/VZ\">$(VZ)$</a>家得宝等零售商和消费品集团也榜上有名<a href=\"https://laohu8.com/S/HD\">$(HD)$</a>,目标<a href=\"https://laohu8.com/S/TGT\">$(TGT)$</a>,麦当劳<a href=\"https://laohu8.com/S/MCD\">$(MCD)$</a>,星巴克<a href=\"https://laohu8.com/S/SBUX\">$(SBUX)$</a>,耐克<a href=\"https://laohu8.com/S/NKE\">$(NKE)$</a>,卡夫亨氏<a href=\"https://laohu8.com/S/KHC\">$(KHC)$</a>,雅诗兰黛<a href=\"https://laohu8.com/S/EL\">$(EL)$</a>，和可口可乐<a href=\"https://laohu8.com/S/KO\">$(KO)$</a>.</blockquote></p><p> Health and biotechnology stocks like Johnson &amp; Johnson <a href=\"https://laohu8.com/S/JNJ\">$(JNJ)$</a>, Pfizer <a href=\"https://laohu8.com/S/PFE\">$(PFE)$</a>, Gilead Sciences <a href=\"https://laohu8.com/S/GILD\">$(GILD)$</a>, Regeneron <a href=\"https://laohu8.com/S/REGN\">$(REGN)$</a>, and Biogen <a href=\"https://laohu8.com/S/BIIB\">$(BIIB)$</a> also make the cut, as do railroad operators Kansas City Southern <a href=\"https://laohu8.com/S/KSU\">$(KSU)$</a> and Union Pacific <a href=\"https://laohu8.com/S/UNP\">$(UNP)$</a>. Defense companies Lockheed Martin <a href=\"https://laohu8.com/S/LMT\">$(LMT)$</a>, Northrop Grumman <a href=\"https://laohu8.com/S/NOC\">$(NOC)$</a>, and Raytheon Technologies <a href=\"https://laohu8.com/S/RTX\">$(RTX)$</a> also qualify.</p><p><blockquote>强生等健康和生物技术股票<a href=\"https://laohu8.com/S/JNJ\">$（强生）$</a>,辉瑞<a href=\"https://laohu8.com/S/PFE\">$(PFE)$</a>,吉利德科学<a href=\"https://laohu8.com/S/GILD\">$(GILD)$</a>,再生元<a href=\"https://laohu8.com/S/REGN\">$(REGN)$</a>，和百健<a href=\"https://laohu8.com/S/BIIB\">$(BIIB)$</a>铁路运营商堪萨斯城南方铁路也晋级<a href=\"https://laohu8.com/S/KSU\">$(KSU)$</a>和联合太平洋<a href=\"https://laohu8.com/S/UNP\">$(UNP)$</a>.国防公司洛克希德·马丁公司<a href=\"https://laohu8.com/S/LMT\">$(LMT)$</a>,诺斯罗普·格鲁曼公司<a href=\"https://laohu8.com/S/NOC\">$（夜间）$</a>，和雷神技术<a href=\"https://laohu8.com/S/RTX\">$(RTX)$</a>也有资格。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Looking for hedges against inflation? Try Apple, Nike, Verizon and stocks with this in common, strategists say<blockquote>寻找通胀对冲工具？策略师表示，尝试苹果、Nike、Verizon和具有此共同点的股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLooking for hedges against inflation? Try Apple, Nike, Verizon and stocks with this in common, strategists say<blockquote>寻找通胀对冲工具？策略师表示，尝试苹果、Nike、Verizon和具有此共同点的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-06-18 15:03</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Stocks are set for a poor performance on Thursday, as markets absorb the Federal Reserve's indication that interest rate increases are coming sooner than expected, while the central bank remains alert to inflation risks.</p><p><blockquote>周四股市将表现不佳，因为市场吸收了美联储加息时间快于预期的迹象，同时央行仍对通胀风险保持警惕。</blockquote></p><p> \"There is probably no bigger macro issue, both tactically and strategically, than inflation and what this means for portfolios,\" said strategists led by Inigo Fraser Jenkins at Bernstein Research on Thursday.</p><p><blockquote>伯恩斯坦研究公司Inigo Fraser Jenkins领导的策略师周四表示：“无论是战术上还是战略上，可能没有比通胀及其对投资组合的意义更大的宏观问题了。”</blockquote></p><p> Fraser Jenkins and his team have our call of the day: that investors should look to buy shares in companies with a long maturity of debt as an effective hedge against inflation.</p><p><blockquote>Fraser Jenkins和他的团队提出了我们当今的看涨期权：投资者应该购买债务期限较长的公司的股票，作为对冲通胀的有效手段。</blockquote></p><p> Companies issued debt at an astounding rate through the COVID-19 pandemic. Much of it was a necessary move to meet funding needs, but for some groups it was an opportunity to take advantage of the Fed's measures supporting credit markets, which provided an ability to increase the maturity of debt, the strategists said.</p><p><blockquote>公司通过COVID-19大流行以惊人的速度发行债务。策略师表示，这在很大程度上是满足融资需求的必要举措，但对一些群体来说，这是一个利用美联储支持信贷市场措施的机会，这些措施提供了延长债务期限的能力。</blockquote></p><p> According to the team at Bernstein, for companies that have long maturity of debt, have issued fixed-rate debt, and are going concerns -- i.e. can continue operating while meeting financial obligations -- inflation could be a positive thing. \"Inflation would erode the real value of the debt relative to earnings (which are tied to the real economy),\" the strategists said.</p><p><blockquote>伯恩斯坦的团队表示，对于债务期限较长、已发行固定利率债务且持续经营（即可以在履行财务义务的同时继续运营）的公司来说，通货膨胀可能是一件积极的事情。策略师表示：“通胀将侵蚀债务相对于收益（与实体经济挂钩）的实际价值。”</blockquote></p><p> \"There is no one solution\" to finding suitable hedges for inflation, Fraser Jenkins' group said, noting that a good response may involve more equities, real assets, gold, and even crypto assets like bitcoin . But \"another possible string to the inflation-hedging bow\" is companies that emerge from the pandemic with a long maturity of debt.</p><p><blockquote>Fraser Jenkins的团队表示，寻找合适的通胀对冲工具“没有单一的解决方案”，并指出良好的应对措施可能涉及更多股票、实物资产、黄金，甚至比特币等加密资产。但“通胀对冲弓的另一个可能的弦”是那些从疫情中走出来、债务期限较长的公司。</blockquote></p><p> \"A basket of U.S. long debt maturity stocks has outperformed a basket of short debt maturity stocks by 7% this year and trades at more attractive valuations than their short debt maturity peers,\" Fraser Jenkins and his team added.</p><p><blockquote>Fraser Jenkins和他的团队补充道：“今年一篮子美国长期债务到期股票的表现优于一篮子短期债务到期股票7%，并且其估值比短期债务到期股票更具吸引力。”</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1aca07448aa8168cf9edc9e49d933435\" tg-width=\"1260\" tg-height=\"672\" referrerpolicy=\"no-referrer\"><span>CHART VIA BERNSTEIN RESEARCH.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图表来自伯恩斯坦研究。</span></p></blockquote></p><p> There are a lot of these stocks: the strategists at Bernstein have a list of more than 80. Some of those picks include Big Tech names Apple <a href=\"https://laohu8.com/S/AAPL\">$(AAPL)$</a>, Alphabet <a href=\"https://laohu8.com/S/GOOGL\">$(GOOGL)$</a>(GOOGL), Amazon <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>, and Microsoft <a href=\"https://laohu8.com/S/MSFT\">$(MSFT)$</a>, as well as other technology companies like videogame developer Electronic Arts <a href=\"https://laohu8.com/S/EA\">$(EA)$</a> and semiconductor groups Nvidia <a href=\"https://laohu8.com/S/NVDA\">$(NVDA)$</a>, Texas Instruments <a href=\"https://laohu8.com/S/TXN\">$(TXN)$</a>, and Qualcomm <a href=\"https://laohu8.com/S/QCOM\">$(QCOM)$</a>.</p><p><blockquote>这些股票有很多：伯恩斯坦的策略师列出了80多只股票。其中一些选择包括大型科技公司苹果<a href=\"https://laohu8.com/S/AAPL\">$(AAPL)$</a>, Alphabet<a href=\"https://laohu8.com/S/GOOGL\">$（GOOGL）$</a>（GOOGL）、亚马逊<a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>，和微软<a href=\"https://laohu8.com/S/MSFT\">$(MSFT)$</a>，以及视频游戏开发商艺电等其他科技公司<a href=\"https://laohu8.com/S/EA\">$(EA)$</a>和半导体集团英伟达<a href=\"https://laohu8.com/S/NVDA\">$(NVDA)$</a>,德州仪器<a href=\"https://laohu8.com/S/TXN\">$(TXN)$</a>，和高通<a href=\"https://laohu8.com/S/QCOM\">$(QCOM)$</a>.</blockquote></p><p> Telecom giants AT&amp;T <a href=\"https://laohu8.com/S/T\">$(T)$</a> and Verizon <a href=\"https://laohu8.com/S/VZ\">$(VZ)$</a> are also on the list, as are retailers and consumer-products groups such as Home Depot <a href=\"https://laohu8.com/S/HD\">$(HD)$</a>, Target <a href=\"https://laohu8.com/S/TGT\">$(TGT)$</a>, McDonalds <a href=\"https://laohu8.com/S/MCD\">$(MCD)$</a>, Starbucks <a href=\"https://laohu8.com/S/SBUX\">$(SBUX)$</a>, Nike <a href=\"https://laohu8.com/S/NKE\">$(NKE)$</a>, Kraft Heinz <a href=\"https://laohu8.com/S/KHC\">$(KHC)$</a>, Estée Lauder <a href=\"https://laohu8.com/S/EL\">$(EL)$</a>, and Coca-Cola <a href=\"https://laohu8.com/S/KO\">$(KO)$</a>.</p><p><blockquote>电信巨头AT&amp;T<a href=\"https://laohu8.com/S/T\">$(T)$</a>和威瑞森<a href=\"https://laohu8.com/S/VZ\">$(VZ)$</a>家得宝等零售商和消费品集团也榜上有名<a href=\"https://laohu8.com/S/HD\">$(HD)$</a>,目标<a href=\"https://laohu8.com/S/TGT\">$(TGT)$</a>,麦当劳<a href=\"https://laohu8.com/S/MCD\">$(MCD)$</a>,星巴克<a href=\"https://laohu8.com/S/SBUX\">$(SBUX)$</a>,耐克<a href=\"https://laohu8.com/S/NKE\">$(NKE)$</a>,卡夫亨氏<a href=\"https://laohu8.com/S/KHC\">$(KHC)$</a>,雅诗兰黛<a href=\"https://laohu8.com/S/EL\">$(EL)$</a>，和可口可乐<a href=\"https://laohu8.com/S/KO\">$(KO)$</a>.</blockquote></p><p> Health and biotechnology stocks like Johnson &amp; Johnson <a href=\"https://laohu8.com/S/JNJ\">$(JNJ)$</a>, Pfizer <a href=\"https://laohu8.com/S/PFE\">$(PFE)$</a>, Gilead Sciences <a href=\"https://laohu8.com/S/GILD\">$(GILD)$</a>, Regeneron <a href=\"https://laohu8.com/S/REGN\">$(REGN)$</a>, and Biogen <a href=\"https://laohu8.com/S/BIIB\">$(BIIB)$</a> also make the cut, as do railroad operators Kansas City Southern <a href=\"https://laohu8.com/S/KSU\">$(KSU)$</a> and Union Pacific <a href=\"https://laohu8.com/S/UNP\">$(UNP)$</a>. Defense companies Lockheed Martin <a href=\"https://laohu8.com/S/LMT\">$(LMT)$</a>, Northrop Grumman <a href=\"https://laohu8.com/S/NOC\">$(NOC)$</a>, and Raytheon Technologies <a href=\"https://laohu8.com/S/RTX\">$(RTX)$</a> also qualify.</p><p><blockquote>强生等健康和生物技术股票<a href=\"https://laohu8.com/S/JNJ\">$（强生）$</a>,辉瑞<a href=\"https://laohu8.com/S/PFE\">$(PFE)$</a>,吉利德科学<a href=\"https://laohu8.com/S/GILD\">$(GILD)$</a>,再生元<a href=\"https://laohu8.com/S/REGN\">$(REGN)$</a>，和百健<a href=\"https://laohu8.com/S/BIIB\">$(BIIB)$</a>铁路运营商堪萨斯城南方铁路也晋级<a href=\"https://laohu8.com/S/KSU\">$(KSU)$</a>和联合太平洋<a href=\"https://laohu8.com/S/UNP\">$(UNP)$</a>.国防公司洛克希德·马丁公司<a href=\"https://laohu8.com/S/LMT\">$(LMT)$</a>,诺斯罗普·格鲁曼公司<a href=\"https://laohu8.com/S/NOC\">$（夜间）$</a>，和雷神技术<a href=\"https://laohu8.com/S/RTX\">$(RTX)$</a>也有资格。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/looking-for-hedges-against-inflation-try-apple-nike-verizon-and-stocks-with-this-in-common-strategists-say-11623928849?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"EL":"雅诗兰黛","HD":"家得宝","MSFT":"微软","LMT":"洛克希德马丁","KSU":"堪萨斯南方铁路","JNJ":"强生","KHC":"卡夫亨氏","AMZN":"亚马逊","REGN":"再生元制药公司","QCOM":"高通","PFE":"辉瑞","GILD":"吉利德科学","AAPL":"苹果","NVDA":"英伟达","TGT":"塔吉特","GOOG":"谷歌","TXN":"德州仪器","NKE":"耐克","MCD":"麦当劳","EA":"艺电","KO":"可口可乐","VZ":"Verizon Comms","UNP":"联合太平洋","SBUX":"星巴克","RTX":"雷神技术公司","GOOGL":"谷歌A","NOC":"诺斯罗普格鲁曼"},"source_url":"https://www.marketwatch.com/story/looking-for-hedges-against-inflation-try-apple-nike-verizon-and-stocks-with-this-in-common-strategists-say-11623928849?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2144745081","content_text":"Stocks are set for a poor performance on Thursday, as markets absorb the Federal Reserve's indication that interest rate increases are coming sooner than expected, while the central bank remains alert to inflation risks.\n\"There is probably no bigger macro issue, both tactically and strategically, than inflation and what this means for portfolios,\" said strategists led by Inigo Fraser Jenkins at Bernstein Research on Thursday.\nFraser Jenkins and his team have our call of the day: that investors should look to buy shares in companies with a long maturity of debt as an effective hedge against inflation.\nCompanies issued debt at an astounding rate through the COVID-19 pandemic. Much of it was a necessary move to meet funding needs, but for some groups it was an opportunity to take advantage of the Fed's measures supporting credit markets, which provided an ability to increase the maturity of debt, the strategists said.\nAccording to the team at Bernstein, for companies that have long maturity of debt, have issued fixed-rate debt, and are going concerns -- i.e. can continue operating while meeting financial obligations -- inflation could be a positive thing. \"Inflation would erode the real value of the debt relative to earnings (which are tied to the real economy),\" the strategists said.\n\"There is no one solution\" to finding suitable hedges for inflation, Fraser Jenkins' group said, noting that a good response may involve more equities, real assets, gold, and even crypto assets like bitcoin . But \"another possible string to the inflation-hedging bow\" is companies that emerge from the pandemic with a long maturity of debt.\n\"A basket of U.S. long debt maturity stocks has outperformed a basket of short debt maturity stocks by 7% this year and trades at more attractive valuations than their short debt maturity peers,\" Fraser Jenkins and his team added.\nCHART VIA BERNSTEIN RESEARCH.\nThere are a lot of these stocks: the strategists at Bernstein have a list of more than 80. Some of those picks include Big Tech names Apple $(AAPL)$, Alphabet $(GOOGL)$(GOOGL), Amazon $(AMZN)$, and Microsoft $(MSFT)$, as well as other technology companies like videogame developer Electronic Arts $(EA)$ and semiconductor groups Nvidia $(NVDA)$, Texas Instruments $(TXN)$, and Qualcomm $(QCOM)$.\nTelecom giants AT&T $(T)$ and Verizon $(VZ)$ are also on the list, as are retailers and consumer-products groups such as Home Depot $(HD)$, Target $(TGT)$, McDonalds $(MCD)$, Starbucks $(SBUX)$, Nike $(NKE)$, Kraft Heinz $(KHC)$, Estée Lauder $(EL)$, and Coca-Cola $(KO)$.\nHealth and biotechnology stocks like Johnson & Johnson $(JNJ)$, Pfizer $(PFE)$, Gilead Sciences $(GILD)$, Regeneron $(REGN)$, and Biogen $(BIIB)$ also make the cut, as do railroad operators Kansas City Southern $(KSU)$ and Union Pacific $(UNP)$. Defense companies Lockheed Martin $(LMT)$, Northrop Grumman $(NOC)$, and Raytheon Technologies $(RTX)$ also qualify.","news_type":1,"symbols_score_info":{"NKE":0.9,"KSU":0.9,"AAPL":0.9,"JNJ":0.9,"PFE":0.9,"NVDA":0.9,"VZA":0.9,"TXN":0.9,"KO":0.9,"LMT":0.9,"QCOM":0.9,"AMZN":0.9,"HD":0.9,"RTX":0.9,"VZ":0.9,"NOC":0.9,"GOOG":0.9,"EL":0.9,"EA":0.9,"UNP":0.9,"MCD":0.9,"GILD":0.9,"MSFT":0.9,"KHC":0.9,"SBUX":0.9,"TGT":0.9,"REGN":0.9,"GOOGL":0.9}},"isVote":1,"tweetType":1,"viewCount":1700,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169330661,"gmtCreate":1623816338153,"gmtModify":1631894051046,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3563007583951606","authorIdStr":"3563007583951606"},"themes":[],"htmlText":"Make more babies. But too expensive to raise a child, comfortably at least","listText":"Make more babies. But too expensive to raise a child, comfortably at least","text":"Make more babies. But too expensive to raise a child, comfortably at least","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/169330661","repostId":"1191543581","repostType":4,"isVote":1,"tweetType":1,"viewCount":1674,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169398235,"gmtCreate":1623816153627,"gmtModify":1631894051050,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3563007583951606","authorIdStr":"3563007583951606"},"themes":[],"htmlText":"yea i think netflix should be able to pull this off","listText":"yea i think netflix should be able to pull this off","text":"yea i think netflix should be able to pull this off","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169398235","repostId":"1137428482","repostType":4,"repost":{"id":"1137428482","kind":"news","pubTimestamp":1623815725,"share":"https://www.laohu8.com/m/news/1137428482?lang=zh_CN&edition=full","pubTime":"2021-06-16 11:55","market":"us","language":"en","title":"2 Reasons Netflix Will Win Its Merchandising Gambit<blockquote>Netflix赢得营销策略的2个原因</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1137428482","media":"Motley Fool","summary":"The leading premium streaming video service has an online store. It's bigger than you think.","content":"<p>It's easy to be skeptical about last week's launch of&nbsp;<b>Netflix</b>'s(NASDAQ:NFLX)&nbsp;online merch store. The new platform -- available via&nbsp;Netflix.shop-- is limited to selling T-shirts and hoodies themed to its<i>Yasuke</i>and<i>Eden</i>anime. It's just designer streetwear right now, and it's not cheap. T-shirts range in price from $30 to $45. Hypland's Yasuke hoodie is going to set you back a beefy $82, or nearly half a year of a Netflix subscription.</p><p><blockquote>人们很容易对上周推出的<b>Netflix</b>（纳斯达克：NFLX）在线merch商店。这个新平台可通过Netflix.shop购买，仅限于销售以其品牌为主题的T恤和帽衫<i>安介</i>和<i>伊甸园</i>动漫。现在只是设计师的街头服饰，而且不便宜。T恤的价格从30美元到45美元不等。Hypland的Yasuke连帽衫将花费你高达82美元，相当于网飞订阅近半年的费用。</blockquote></p><p> However, you may want to think twice before you dismiss the leading premium video service's chances here. There are some good reasons to bet on Netflix's latest move. Let's check them out.</p><p><blockquote>然而，在你放弃领先的优质视频服务的机会之前，你可能要三思。有一些充分的理由押注Netflix的最新举措。我们去看看。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/434a5606f0aa105dc2200617936db7bd\" tg-width=\"2000\" tg-height=\"1333\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>1. Netflix is just getting started</b></p><p><blockquote><b>1.Netflix才刚刚起步</b></blockquote></p><p> This is obviously just the opening act of Netflix.shop. You can get third-party -- admittedly unlicensed -- shirts for a lot less elsewhere. It will be harder to duplicate the<i>Yasuke</i>and<i>Eden</i>action figures that Netflix is promising will roll out later this month.</p><p><blockquote>这显然只是Netflix.shop的开场表演。你可以在其他地方以更低的价格买到第三方的——不可否认的——衬衫。将更难复制<i>安介</i>和<i>伊甸园</i>网飞承诺的活动人偶将于本月晚些时候推出。</blockquote></p><p> Limited-edition apparel and decor inspired by<i>Lupin</i>-- with the second season just dropping into your Netflix queue -- will hit the digital storefront this month. Last week's launch also teased upcoming exclusive<i>Stranger Things</i>and<i>The Witcher</i>product lines. Reports also have Netflix working on a<i>Bridgerton</i>clothing line alongside live events. And Fans of<i>La Casa de Papel</i>-- aka<i>Money Heist</i>-- should be on the lookout for proprietary merch.</p><p><blockquote>限量版服装和装饰灵感来自<i>鲁邦</i>——第二季刚刚进入Netflix队列——将于本月登陆数字店面。上周的发布还预告了即将推出的独家<i>奇怪的事情</i>和<i>巫师</i>产品线。有报道称Netflix正在开发一款<i>布里奇顿</i>现场活动旁边的服装系列。和粉丝<i>纸屋</i>——阿卡<i>金钱抢劫</i>--应该留意专有商品。</blockquote></p><p> Don't judge Netflix's new foray into the e-tail of physical merch based on what you see on today's landing page. The store will get bigger, and you'll get there once they roll around to paddling a new revenue stream based on one of your favorite shows.</p><p><blockquote>不要根据你在今天的登陆页面上看到的来判断网飞对实体商品电子零售的新尝试。商店会变得更大，一旦他们根据你最喜欢的节目之一获得新的收入来源，你就会到达那里。</blockquote></p><p> <b>2. Never underestimate the Netflix audience</b></p><p><blockquote><b>2.永远不要低估Netflix的观众</b></blockquote></p><p> It's not smart to bet against Netflix. It doesn't make a move unless it has thoroughly thought things through. How many times were we asking Netflix to rent video games by mail during its red envelope days? How many analysts have wondered about the money that Netflix could rake in it if sold ads on top of its streams in this era of rising connected-TV rates?</p><p><blockquote>做空Netflix是不明智的。除非它把事情想透了，否则它不会采取行动。在网飞红包的日子里，我们有多少次通过邮件要求它租电子游戏？有多少分析师想知道，在这个联网电视费率不断上涨的时代，如果Netflix在其流媒体上销售广告，它能赚多少钱？</blockquote></p><p> Netflix is way smarter than me. It may also be smarter than you when it comes to how it runs its business. Bloomberg is reporting that Netflix is in the process of hiring heads of consumer products, podcasts, and video game businesses that don't currently exist. If they see the light of day -- as we're seeing with consumer product -- it's because the company knows what it's doing.</p><p><blockquote>网飞比我聪明多了。在如何经营业务方面，它也可能比你更聪明。彭博社报道称，Netflix正在招聘目前尚不存在的消费产品、播客和视频游戏业务的负责人。如果他们看到了曙光——就像我们在消费品上看到的那样——那是因为公司知道自己在做什么。</blockquote></p><p> Netflix had&nbsp;207.6 million subscribersat the end of March, and we're talking about entire families here. The reach and breadth is larger than the account base. It's a captive audience spending hours a day getting lost in Netflix's growing digital catalog of content.</p><p><blockquote>截至3月底，Netflix拥有2.076亿用户，我们在这里谈论的是整个家庭。触角和广度大于账户基数。这是一群被俘虏的观众，他们每天花几个小时迷失在网飞不断增长的数字内容目录中。</blockquote></p><p> Folks trust Netflix to get it right. They stick around, even if it means prices keep moving higher. Netflix has increased its monthly rates in the U.S.five times over the last seven years, and the sub count is always higher by the time the next hike rolls around.</p><p><blockquote>人们相信网飞会把事情做好。他们会留下来，即使这意味着价格继续走高。在过去的七年里，Netflix在美国提高了五次月费率，而在下一次加息到来时，子计数总是更高。</blockquote></p><p> Netflix is a&nbsp;media stock. It's not a surprise that traditional media behemoths are generating significant sums of incremental revenue through vibrant consumer product sales. Why wouldn't Netflix -- a company that's been collecting gobs of data on your viewing habits for years -- be as good at nailing what you'll want to buy next as it is at knowing what you want to view next? We may never see a theme park, though I would be the first in line through the turnstiles of Netflixlandia to ride the<i>Ozark</i>roller coaster or experience the<i>Stranger Things</i>dark ride. Selling unique merch to an engaged audience will be a lot easier, and unlike that<i>Ozark</i>coaster there are no height requirements or seat restraints to keep you from making the most of the consumer products ride.</p><p><blockquote>Netflix是一只媒体股票。传统媒体巨头通过充满活力的消费品销售创造了大量增量收入，这并不奇怪。为什么Netflix——一家多年来一直在收集大量关于你观看习惯的数据的公司——不能像知道你下一步想看什么一样擅长确定你下一步想买什么呢？我们可能永远不会看到主题公园，尽管我会是第一个通过Netflixlandia十字转门排队乘坐主题公园的人<i>欧扎克</i>过山车或体验<i>奇怪的事情</i>黑暗之旅。向积极参与的受众销售独特的商品会容易得多，与此不同<i>欧扎克</i>过山车没有高度要求或座位限制来阻止你充分利用消费品。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>2 Reasons Netflix Will Win Its Merchandising Gambit<blockquote>Netflix赢得营销策略的2个原因</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n2 Reasons Netflix Will Win Its Merchandising Gambit<blockquote>Netflix赢得营销策略的2个原因</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-06-16 11:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p>It's easy to be skeptical about last week's launch of&nbsp;<b>Netflix</b>'s(NASDAQ:NFLX)&nbsp;online merch store. The new platform -- available via&nbsp;Netflix.shop-- is limited to selling T-shirts and hoodies themed to its<i>Yasuke</i>and<i>Eden</i>anime. It's just designer streetwear right now, and it's not cheap. T-shirts range in price from $30 to $45. Hypland's Yasuke hoodie is going to set you back a beefy $82, or nearly half a year of a Netflix subscription.</p><p><blockquote>人们很容易对上周推出的<b>Netflix</b>（纳斯达克：NFLX）在线merch商店。这个新平台可通过Netflix.shop购买，仅限于销售以其品牌为主题的T恤和帽衫<i>安介</i>和<i>伊甸园</i>动漫。现在只是设计师的街头服饰，而且不便宜。T恤的价格从30美元到45美元不等。Hypland的Yasuke连帽衫将花费你高达82美元，相当于网飞订阅近半年的费用。</blockquote></p><p> However, you may want to think twice before you dismiss the leading premium video service's chances here. There are some good reasons to bet on Netflix's latest move. Let's check them out.</p><p><blockquote>然而，在你放弃领先的优质视频服务的机会之前，你可能要三思。有一些充分的理由押注Netflix的最新举措。我们去看看。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/434a5606f0aa105dc2200617936db7bd\" tg-width=\"2000\" tg-height=\"1333\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>1. Netflix is just getting started</b></p><p><blockquote><b>1.Netflix才刚刚起步</b></blockquote></p><p> This is obviously just the opening act of Netflix.shop. You can get third-party -- admittedly unlicensed -- shirts for a lot less elsewhere. It will be harder to duplicate the<i>Yasuke</i>and<i>Eden</i>action figures that Netflix is promising will roll out later this month.</p><p><blockquote>这显然只是Netflix.shop的开场表演。你可以在其他地方以更低的价格买到第三方的——不可否认的——衬衫。将更难复制<i>安介</i>和<i>伊甸园</i>网飞承诺的活动人偶将于本月晚些时候推出。</blockquote></p><p> Limited-edition apparel and decor inspired by<i>Lupin</i>-- with the second season just dropping into your Netflix queue -- will hit the digital storefront this month. Last week's launch also teased upcoming exclusive<i>Stranger Things</i>and<i>The Witcher</i>product lines. Reports also have Netflix working on a<i>Bridgerton</i>clothing line alongside live events. And Fans of<i>La Casa de Papel</i>-- aka<i>Money Heist</i>-- should be on the lookout for proprietary merch.</p><p><blockquote>限量版服装和装饰灵感来自<i>鲁邦</i>——第二季刚刚进入Netflix队列——将于本月登陆数字店面。上周的发布还预告了即将推出的独家<i>奇怪的事情</i>和<i>巫师</i>产品线。有报道称Netflix正在开发一款<i>布里奇顿</i>现场活动旁边的服装系列。和粉丝<i>纸屋</i>——阿卡<i>金钱抢劫</i>--应该留意专有商品。</blockquote></p><p> Don't judge Netflix's new foray into the e-tail of physical merch based on what you see on today's landing page. The store will get bigger, and you'll get there once they roll around to paddling a new revenue stream based on one of your favorite shows.</p><p><blockquote>不要根据你在今天的登陆页面上看到的来判断网飞对实体商品电子零售的新尝试。商店会变得更大，一旦他们根据你最喜欢的节目之一获得新的收入来源，你就会到达那里。</blockquote></p><p> <b>2. Never underestimate the Netflix audience</b></p><p><blockquote><b>2.永远不要低估Netflix的观众</b></blockquote></p><p> It's not smart to bet against Netflix. It doesn't make a move unless it has thoroughly thought things through. How many times were we asking Netflix to rent video games by mail during its red envelope days? How many analysts have wondered about the money that Netflix could rake in it if sold ads on top of its streams in this era of rising connected-TV rates?</p><p><blockquote>做空Netflix是不明智的。除非它把事情想透了，否则它不会采取行动。在网飞红包的日子里，我们有多少次通过邮件要求它租电子游戏？有多少分析师想知道，在这个联网电视费率不断上涨的时代，如果Netflix在其流媒体上销售广告，它能赚多少钱？</blockquote></p><p> Netflix is way smarter than me. It may also be smarter than you when it comes to how it runs its business. Bloomberg is reporting that Netflix is in the process of hiring heads of consumer products, podcasts, and video game businesses that don't currently exist. If they see the light of day -- as we're seeing with consumer product -- it's because the company knows what it's doing.</p><p><blockquote>网飞比我聪明多了。在如何经营业务方面，它也可能比你更聪明。彭博社报道称，Netflix正在招聘目前尚不存在的消费产品、播客和视频游戏业务的负责人。如果他们看到了曙光——就像我们在消费品上看到的那样——那是因为公司知道自己在做什么。</blockquote></p><p> Netflix had&nbsp;207.6 million subscribersat the end of March, and we're talking about entire families here. The reach and breadth is larger than the account base. It's a captive audience spending hours a day getting lost in Netflix's growing digital catalog of content.</p><p><blockquote>截至3月底，Netflix拥有2.076亿用户，我们在这里谈论的是整个家庭。触角和广度大于账户基数。这是一群被俘虏的观众，他们每天花几个小时迷失在网飞不断增长的数字内容目录中。</blockquote></p><p> Folks trust Netflix to get it right. They stick around, even if it means prices keep moving higher. Netflix has increased its monthly rates in the U.S.five times over the last seven years, and the sub count is always higher by the time the next hike rolls around.</p><p><blockquote>人们相信网飞会把事情做好。他们会留下来，即使这意味着价格继续走高。在过去的七年里，Netflix在美国提高了五次月费率，而在下一次加息到来时，子计数总是更高。</blockquote></p><p> Netflix is a&nbsp;media stock. It's not a surprise that traditional media behemoths are generating significant sums of incremental revenue through vibrant consumer product sales. Why wouldn't Netflix -- a company that's been collecting gobs of data on your viewing habits for years -- be as good at nailing what you'll want to buy next as it is at knowing what you want to view next? We may never see a theme park, though I would be the first in line through the turnstiles of Netflixlandia to ride the<i>Ozark</i>roller coaster or experience the<i>Stranger Things</i>dark ride. Selling unique merch to an engaged audience will be a lot easier, and unlike that<i>Ozark</i>coaster there are no height requirements or seat restraints to keep you from making the most of the consumer products ride.</p><p><blockquote>Netflix是一只媒体股票。传统媒体巨头通过充满活力的消费品销售创造了大量增量收入，这并不奇怪。为什么Netflix——一家多年来一直在收集大量关于你观看习惯的数据的公司——不能像知道你下一步想看什么一样擅长确定你下一步想买什么呢？我们可能永远不会看到主题公园，尽管我会是第一个通过Netflixlandia十字转门排队乘坐主题公园的人<i>欧扎克</i>过山车或体验<i>奇怪的事情</i>黑暗之旅。向积极参与的受众销售独特的商品会容易得多，与此不同<i>欧扎克</i>过山车没有高度要求或座位限制来阻止你充分利用消费品。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/06/15/2-reasons-netflix-will-win-its-merchandising-gambi/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NFLX":"奈飞"},"source_url":"https://www.fool.com/investing/2021/06/15/2-reasons-netflix-will-win-its-merchandising-gambi/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137428482","content_text":"It's easy to be skeptical about last week's launch of Netflix's(NASDAQ:NFLX) online merch store. The new platform -- available via Netflix.shop-- is limited to selling T-shirts and hoodies themed to itsYasukeandEdenanime. It's just designer streetwear right now, and it's not cheap. T-shirts range in price from $30 to $45. Hypland's Yasuke hoodie is going to set you back a beefy $82, or nearly half a year of a Netflix subscription.\nHowever, you may want to think twice before you dismiss the leading premium video service's chances here. There are some good reasons to bet on Netflix's latest move. Let's check them out.\nIMAGE SOURCE: GETTY IMAGES.\n1. Netflix is just getting started\nThis is obviously just the opening act of Netflix.shop. You can get third-party -- admittedly unlicensed -- shirts for a lot less elsewhere. It will be harder to duplicate theYasukeandEdenaction figures that Netflix is promising will roll out later this month.\nLimited-edition apparel and decor inspired byLupin-- with the second season just dropping into your Netflix queue -- will hit the digital storefront this month. Last week's launch also teased upcoming exclusiveStranger ThingsandThe Witcherproduct lines. Reports also have Netflix working on aBridgertonclothing line alongside live events. And Fans ofLa Casa de Papel-- akaMoney Heist-- should be on the lookout for proprietary merch.\nDon't judge Netflix's new foray into the e-tail of physical merch based on what you see on today's landing page. The store will get bigger, and you'll get there once they roll around to paddling a new revenue stream based on one of your favorite shows.\n2. Never underestimate the Netflix audience\nIt's not smart to bet against Netflix. It doesn't make a move unless it has thoroughly thought things through. How many times were we asking Netflix to rent video games by mail during its red envelope days? How many analysts have wondered about the money that Netflix could rake in it if sold ads on top of its streams in this era of rising connected-TV rates?\nNetflix is way smarter than me. It may also be smarter than you when it comes to how it runs its business. Bloomberg is reporting that Netflix is in the process of hiring heads of consumer products, podcasts, and video game businesses that don't currently exist. If they see the light of day -- as we're seeing with consumer product -- it's because the company knows what it's doing.\nNetflix had 207.6 million subscribersat the end of March, and we're talking about entire families here. The reach and breadth is larger than the account base. It's a captive audience spending hours a day getting lost in Netflix's growing digital catalog of content.\nFolks trust Netflix to get it right. They stick around, even if it means prices keep moving higher. Netflix has increased its monthly rates in the U.S.five times over the last seven years, and the sub count is always higher by the time the next hike rolls around.\nNetflix is a media stock. It's not a surprise that traditional media behemoths are generating significant sums of incremental revenue through vibrant consumer product sales. Why wouldn't Netflix -- a company that's been collecting gobs of data on your viewing habits for years -- be as good at nailing what you'll want to buy next as it is at knowing what you want to view next? We may never see a theme park, though I would be the first in line through the turnstiles of Netflixlandia to ride theOzarkroller coaster or experience theStranger Thingsdark ride. Selling unique merch to an engaged audience will be a lot easier, and unlike thatOzarkcoaster there are no height requirements or seat restraints to keep you from making the most of the consumer products ride.","news_type":1,"symbols_score_info":{"NFLX":0.9}},"isVote":1,"tweetType":1,"viewCount":1431,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181591101,"gmtCreate":1623400160203,"gmtModify":1631894051065,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3563007583951606","authorIdStr":"3563007583951606"},"themes":[],"htmlText":"Support local businesses 😂","listText":"Support local businesses 😂","text":"Support local businesses 😂","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/181591101","repostId":"2142274705","repostType":4,"isVote":1,"tweetType":1,"viewCount":1306,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":112642620,"gmtCreate":1622869065260,"gmtModify":1631894051079,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3563007583951606","authorIdStr":"3563007583951606"},"themes":[],"htmlText":"definitely. what’s there to lose? just buy more products you don’t actually need!!&nbsp;","listText":"definitely. what’s there to lose? just buy more products you don’t actually need!!&nbsp;","text":"definitely. what’s there to lose? just buy more products you don’t actually need!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/112642620","repostId":"1158897173","repostType":4,"isVote":1,"tweetType":1,"viewCount":1242,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":111237183,"gmtCreate":1622681968342,"gmtModify":1631894051091,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3563007583951606","authorIdStr":"3563007583951606"},"themes":[],"htmlText":"🍿&nbsp;","listText":"🍿&nbsp;","text":"🍿","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/111237183","repostId":"1115876867","repostType":4,"isVote":1,"tweetType":1,"viewCount":311,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":113606952,"gmtCreate":1622607544676,"gmtModify":1634099972391,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3563007583951606","authorIdStr":"3563007583951606"},"themes":[],"htmlText":"Yea","listText":"Yea","text":"Yea","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/113606952","repostId":"1124602488","repostType":4,"isVote":1,"tweetType":1,"viewCount":259,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":131619620,"gmtCreate":1621853894460,"gmtModify":1634186085269,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3563007583951606","authorIdStr":"3563007583951606"},"themes":[],"htmlText":"Yup","listText":"Yup","text":"Yup","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/131619620","repostId":"2137318881","repostType":4,"isVote":1,"tweetType":1,"viewCount":397,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":195519783,"gmtCreate":1621301249942,"gmtModify":1634192648449,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3563007583951606","authorIdStr":"3563007583951606"},"themes":[],"htmlText":"come on","listText":"come on","text":"come on","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/195519783","repostId":"2136957386","repostType":4,"isVote":1,"tweetType":1,"viewCount":340,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":191434035,"gmtCreate":1620897361027,"gmtModify":1631887046498,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3563007583951606","authorIdStr":"3563007583951606"},"themes":[],"htmlText":"Alocoholics be like ROKU GIN!!","listText":"Alocoholics be like ROKU GIN!!","text":"Alocoholics be like ROKU GIN!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/191434035","repostId":"1115369155","repostType":4,"isVote":1,"tweetType":1,"viewCount":322,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":193263961,"gmtCreate":1620791527853,"gmtModify":1634196259261,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3563007583951606","authorIdStr":"3563007583951606"},"themes":[],"htmlText":"Good luck","listText":"Good luck","text":"Good luck","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/193263961","repostId":"2134698127","repostType":4,"isVote":1,"tweetType":1,"viewCount":358,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":102626103,"gmtCreate":1620209269002,"gmtModify":1634206979927,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3563007583951606","authorIdStr":"3563007583951606"},"themes":[],"htmlText":"at least she didn’t put her personal juices and sold them","listText":"at least she didn’t put her personal juices and sold them","text":"at least she didn’t put her personal juices and sold them","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/102626103","repostId":"1139920922","repostType":4,"repost":{"id":"1139920922","kind":"news","pubTimestamp":1620208360,"share":"https://www.laohu8.com/m/news/1139920922?lang=zh_CN&edition=full","pubTime":"2021-05-05 17:52","market":"us","language":"en","title":"Jessica Alba's Ethical Consumerism-Centered Brand Honest Company Raises $413M In IPO<blockquote>杰西卡·阿尔芭(Jessica Alba)以道德消费主义为中心的品牌Honest Company通过IPO筹集4.13亿美元</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1139920922","media":"benzinga","summary":"Actress-turned-entrepreneur Jessica Alba’sThe Honest Company Inc, best known for making diapers, sun","content":"<p><div> Actress-turned-entrepreneur Jessica Alba’sThe Honest Company Inc, best known for making diapers, sunscreens and cleaning products, has raised $413 million in an initial public offering, valuing the ...</p><p><blockquote><div>演员出身的企业家杰西卡·阿尔芭的诚实公司以生产尿布、防晒霜和清洁产品而闻名，该公司在首次公开募股中筹集了4.13亿美元，估值为...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/05/20957059/jessica-albas-ethical-consumerism-centered-brand-honest-company-raises-413m-in-ipo\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/05/20957059/jessica-albas-ethical-consumerism-centered-brand-honest-company-raises-413m-in-ipo\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Jessica Alba's Ethical Consumerism-Centered Brand Honest Company Raises $413M In IPO<blockquote>杰西卡·阿尔芭(Jessica Alba)以道德消费主义为中心的品牌Honest Company通过IPO筹集4.13亿美元</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJessica Alba's Ethical Consumerism-Centered Brand Honest Company Raises $413M In IPO<blockquote>杰西卡·阿尔芭(Jessica Alba)以道德消费主义为中心的品牌Honest Company通过IPO筹集4.13亿美元</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">benzinga</strong><span class=\"h-time small\">2021-05-05 17:52</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> Actress-turned-entrepreneur Jessica Alba’sThe Honest Company Inc, best known for making diapers, sunscreens and cleaning products, has raised $413 million in an initial public offering, valuing the ...</p><p><blockquote><div>演员出身的企业家杰西卡·阿尔芭的诚实公司以生产尿布、防晒霜和清洁产品而闻名，该公司在首次公开募股中筹集了4.13亿美元，估值为...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/05/20957059/jessica-albas-ethical-consumerism-centered-brand-honest-company-raises-413m-in-ipo\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/05/20957059/jessica-albas-ethical-consumerism-centered-brand-honest-company-raises-413m-in-ipo\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/21/05/20957059/jessica-albas-ethical-consumerism-centered-brand-honest-company-raises-413m-in-ipo\">benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HNST":"The Honest Company, Inc."},"source_url":"https://www.benzinga.com/news/21/05/20957059/jessica-albas-ethical-consumerism-centered-brand-honest-company-raises-413m-in-ipo","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139920922","content_text":"Actress-turned-entrepreneur Jessica Alba’sThe Honest Company Inc, best known for making diapers, sunscreens and cleaning products, has raised $413 million in an initial public offering, valuing the company at $1.45 billion.What Happened:According to a regulatory filing, the company sold about 25.8 million shares for $16 each, slightly above the midpoint of its indicated range. Honest had earlier indicated shares could be sold in the IPO at $14-$17 a share.The Los Angeles-based company will list its shares on the Nasdaq under the symbol \"HNST\" on Wednesday.Alba owns 5.65 million shares in Honest, giving her stake a valuation of around $90.4 million at the IPO price.The company has raised money in several private funding rounds andwas reportedto be considering public going in 2016 when a lawsuit said its products contained a harsh chemical it had pledged to avoid.Lightspeed, Fidelity and General Catalyst-backed company had then reached a $7.35 million settlement for wrongly labeling ingredients in some products as natural, plant-based, or chemical-free.Why It Matters:Alba markets Honest products as safe and eco-friendly, most of which were initially sold online. The company has also tied up with brick-and-mortar retailers such asTarget Corp,Amazon.com Inc,Costco Wholesale Corp and Whole Foods for distribution.The company generated sales of $300.5 million in 2020, a 28% increase over 2019. Honest reported revenue of $235.6 million for fiscal 2020, up 27.6% year-over-year, and net loss of $14.5 million.Diapers and wipes made up 63% of 2020 revenue, while skin and personal care product revenue represented 26% of sales.","news_type":1,"symbols_score_info":{"HNST":0.9}},"isVote":1,"tweetType":1,"viewCount":387,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":102628560,"gmtCreate":1620209221550,"gmtModify":1634206980416,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3563007583951606","authorIdStr":"3563007583951606"},"themes":[],"htmlText":"wow.&nbsp;","listText":"wow.&nbsp;","text":"wow.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/102628560","repostId":"1183452524","repostType":4,"repost":{"id":"1183452524","kind":"news","pubTimestamp":1620208631,"share":"https://www.laohu8.com/m/news/1183452524?lang=zh_CN&edition=full","pubTime":"2021-05-05 17:57","market":"us","language":"en","title":"Bill And Melinda Gates' Divorce News A Bull Case For GameStop? What You Need To Know<blockquote>比尔·盖茨和梅琳达·盖茨的离婚消息是游戏驿站的牛市吗？你需要知道什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1183452524","media":"benzinga","summary":"A post by a member of the Reddit investor forum r/GME in March that speculated billionaires were inc","content":"<p><div> A post by a member of the Reddit investor forum r/GME in March that speculated billionaires were increasing their short positions inGameStop Corp. (NYSE:GME) ahead of their impending divorces is now ...</p><p><blockquote><div>Reddit投资者论坛r/GME的一名成员在3月份发布了一篇帖子，推测亿万富翁在即将离婚之前正在增加他们在GameStop Corp.（纽约证券交易所代码：GME）的空头头寸...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/trading-ideas/long-ideas/21/05/20955715/bill-and-melinda-gates-divorce-news-a-bull-case-for-gamestop-what-you-need-to-know\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/trading-ideas/long-ideas/21/05/20955715/bill-and-melinda-gates-divorce-news-a-bull-case-for-gamestop-what-you-need-to-know\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bill And Melinda Gates' Divorce News A Bull Case For GameStop? What You Need To Know<blockquote>比尔·盖茨和梅琳达·盖茨的离婚消息是游戏驿站的牛市吗？你需要知道什么</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBill And Melinda Gates' Divorce News A Bull Case For GameStop? What You Need To Know<blockquote>比尔·盖茨和梅琳达·盖茨的离婚消息是游戏驿站的牛市吗？你需要知道什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">benzinga</strong><span class=\"h-time small\">2021-05-05 17:57</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> A post by a member of the Reddit investor forum r/GME in March that speculated billionaires were increasing their short positions inGameStop Corp. (NYSE:GME) ahead of their impending divorces is now ...</p><p><blockquote><div>Reddit投资者论坛r/GME的一名成员在3月份发布了一篇帖子，推测亿万富翁在即将离婚之前正在增加他们在GameStop Corp.（纽约证券交易所代码：GME）的空头头寸...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/trading-ideas/long-ideas/21/05/20955715/bill-and-melinda-gates-divorce-news-a-bull-case-for-gamestop-what-you-need-to-know\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/trading-ideas/long-ideas/21/05/20955715/bill-and-melinda-gates-divorce-news-a-bull-case-for-gamestop-what-you-need-to-know\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/trading-ideas/long-ideas/21/05/20955715/bill-and-melinda-gates-divorce-news-a-bull-case-for-gamestop-what-you-need-to-know\">benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.benzinga.com/trading-ideas/long-ideas/21/05/20955715/bill-and-melinda-gates-divorce-news-a-bull-case-for-gamestop-what-you-need-to-know","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1183452524","content_text":"A post by a member of the Reddit investor forum r/GME in March that speculated billionaires were increasing their short positions inGameStop Corp. (NYSE:GME) ahead of their impending divorces is now seen as a bull case for the videogame retailer’s value.\nWhat Happened:Following theannouncement of the divorce ofMicrosoft Corporation(MSFT) co-founder Bill Gates and his wife Melinda Gates on Monday, members of the Reddit board r/GMEdiscovereda nearly two-month-old post by user Jobom3 that linked a spike in borrowed GameStop shares to the possibility of billionaires preparing for their divorces, as first observed by MarketWatch.\nA Reddit post on March 11 noted that more than one million GameStop shares were borrowed from exchange-traded funds (ETFs) in the pre-market. The move was seen as a new confrontation in the ongoing battle between hedge funds trying to short GameStop and investors who wanted to prove the company is fundamentally undervalued.\nIn reply, Jobom3 said, “I think they are just buying time to secure their personal assets. Moving them to offshore or divorce their wives and put the money in their name. Tricks like that.”\nMembers of the Reddit board credited Jobom3 with predicting the Gates’ divorce and noted that the divorce supported their speculation that some wealthy short sellers of GameStop are fighting the short squeeze in a bid to protect their assets from the possibility of a market implosion.\nWhy It Matters:Creating a company like Microsoft helped Bill Gates build great wealth along the way. Gates left Microsoft in 2008 to concentrate on his philanthropic endeavors.\nIn 2000, Gates and Melinda began the Bill & Melinda Gates Foundation, which is the world's largest private charitable foundation with a trust endowment of $49.8 billion.\nThe latestregulatory filingby the foundation disclosed ownership stakes, as of December 31, 2020, inAmyris(NASDAQ:AMRS),Atreca(NASDAQ:BCEL),BioNTech SE(NASDAQ:BNTX),CurevacN.V.(NASDAQ:CVAC) andVir Biotechnology Inc.(NASDAQ:VIR). However, the filing does not show any holding in GameStop shares.\nPrice Action:GameStop shares closed 0.9% lower in Tuesday’s regular trading session at $160.73, but added 0.7% in the after-hours session to $161.89.","news_type":1,"symbols_score_info":{"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":526,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108842245,"gmtCreate":1620014011887,"gmtModify":1634208514708,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3563007583951606","authorIdStr":"3563007583951606"},"themes":[],"htmlText":"praying for the people in India. on another note, can this be reflected in our petrol prices? 😩","listText":"praying for the people in India. on another note, can this be reflected in our petrol prices? 😩","text":"praying for the people in India. on another note, can this be reflected in our petrol prices? 😩","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/108842245","repostId":"2132853599","repostType":4,"isVote":1,"tweetType":1,"viewCount":629,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108846973,"gmtCreate":1620013905692,"gmtModify":1634208515429,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3563007583951606","authorIdStr":"3563007583951606"},"themes":[],"htmlText":"Yea sure","listText":"Yea sure","text":"Yea sure","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/108846973","repostId":"1135819410","repostType":4,"repost":{"id":"1135819410","kind":"news","pubTimestamp":1619999342,"share":"https://www.laohu8.com/m/news/1135819410?lang=zh_CN&edition=full","pubTime":"2021-05-03 07:49","market":"us","language":"en","title":"Uber, Pfizer, PayPal, T-Mobile, ViacomCBS, General Motors, and Other Stocks for Investors to Watch This Week<blockquote>Uber、辉瑞、PayPal、T-Mobile、ViacomCBS、General Motors等本周值得投资者关注的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1135819410","media":"Barrons","summary":"It’s another packed week of earnings reports, with 130 S&P 500 companies on deck to release their fi","content":"<p>It’s another packed week of earnings reports, with 130 S&amp;P 500 companies on deck to release their first-quarter results. Estée Lauder is among Monday’s highlights, before things pick up on Tuesday:&nbsp;Activision Blizzard, CVS Health, DuPont, Pfizer, and T-Mobile US all report.</p><p><blockquote>又是财报密集的一周，130家标普500公司即将发布第一季度业绩。雅诗兰黛是周一的亮点之一，周二情况有所好转：动视暴雪、CVS Health、杜邦、辉瑞和T-Mobile US均报告。</blockquote></p><p>On Wednesday,&nbsp;Barrick Gold, Booking Holdings, General Motors, PayPal Holdings, and Uber Technologies release earnings.&nbsp;Anheuser-Busch InBev, Moderna, Regeneron Pharmaceuticals, Square, and ViacomCBS go on Thursday. And finally, Cigna closes the week on&nbsp;Friday.</p><p><blockquote>周三，Barrick Gold、Booking Holdings、General Motors、PayPal控股和Uber Technologies将发布财报。百威英博、Moderna、再生元制药、Square和ViacomCBS将于周四发布。最后，Cigna将于周五结束这一周。</blockquote></p><p><img src=\"https://static.tigerbbs.com/e1a866fbe5118566e68842053d76e2b9\" tg-width=\"1382\" tg-height=\"750\"></p><p><blockquote></blockquote></p><p>On the economic calendar this week, the&nbsp;main event will jobs Friday.&nbsp;The Bureau of Labor Statistics is forecast to report a gain of 975,000 nonfarm payrolls in April, and an unemployment rate of 5.8%—down from 6% a month earlier.</p><p><blockquote>在本周的经济日历上，主要事件将是周五的就业。美国劳工统计局预计将报告4月份非农就业人数增加97.5万人，失业率为5.8%，低于一个月前的6%。</blockquote></p><p>Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for April on Monday and its&nbsp;Services equivalent on Wednesday.</p><p><blockquote>本周公布的其他数据包括供应管理协会周一公布的4月份制造业采购经理人指数和周三公布的服务业采购经理人指数。</blockquote></p><p>Enterprise Products Partners&nbsp;and Estée Lauder release earnings.</p><p><blockquote>企业产品合作伙伴和雅诗兰黛发布收益。</blockquote></p><p>Merck and&nbsp;Public Storage&nbsp;hold virtual investor days.</p><p><blockquote>默克和Public Storage举办虚拟投资者日。</blockquote></p><p><b>The Census Bureau</b>&nbsp;reports construction-spending data for March. Consensus estimate is for a 0.6% month-over-month increase in construction spending to a seasonally adjusted annual rate of $1.53 trillion.</p><p><blockquote><b>人口普查局</b>报告三月份建筑支出数据。市场普遍预计建筑支出环比增长0.6%，经季节调整后的年率为1.53万亿美元。</blockquote></p><p><b>The Institute for Supply</b>&nbsp;Management releases its Manufacturing Purchasing Managers’ Index for April. Economists forecast a 65 reading, roughly even with the March figure. The March reading was the highest for the index since December 1983.</p><p><blockquote><b>供应研究所</b>管理层发布四月份制造业采购经理人指数。经济学家预测为65，与3月份的数据大致持平。3月份的读数是该指数自1983年12月以来的最高值。</blockquote></p><p><b>Tuesday 5/4</b></p><p><blockquote><b>星期二5/4</b></blockquote></p><p>Activision Blizzard,ConocoPhillips, Cummins, CVS Health,Dominion Energy,DuPont, Eaton, Pfizer,Sysco,and T-Mobile US report quarterly results.</p><p><blockquote>动视暴雪、康菲石油公司、康明斯、CVS Health、Dominion Energy、杜邦、伊顿、辉瑞、Sysco和T-Mobile US报告季度业绩。</blockquote></p><p>Eli Lilly&nbsp;holds a conference call to discuss its sustainability initiatives.</p><p><blockquote>礼来公司召开电话会议讨论其可持续发展计划。</blockquote></p><p>Union Pacific&nbsp;holds its 2021 virtual investor day.</p><p><blockquote>联合太平洋公司举办2021年虚拟投资者日。</blockquote></p><p><b>Wednesday 5/5</b></p><p><blockquote><b>星期三5/5</b></blockquote></p><p>Barrick Gold, Booking Holdings,BorgWarner,Emerson Electric,General Motors,Hilton Worldwide Holdings,Novo Nordisk,PayPal Holdings, and Uber Technologies release earnings.</p><p><blockquote>Barrick Gold、Booking Holdings、BorgWarner、Emerson Electric、General Motors、Hilton Worldwide Holdings、Novo Nordisk、PayPal控股和Uber Technologies发布财报。</blockquote></p><p><b>ADP releases</b>&nbsp;its National Employment Report for April. Expectations are for a gain of 762,500 jobs in private-sector employment after a 517,000 increase in March.</p><p><blockquote><b>ADP释放</b>四月份全国就业报告。继3月份增加517,000个工作岗位后，预计私营部门就业岗位将增加762,500个。</blockquote></p><p><b>ISM releases</b>&nbsp;its Services PMI for April. The consensus call is for a 64.6 reading, a tick higher than the March data. The March reading was an all-time high for the index.</p><p><blockquote><b>ISM版本</b>4月份服务业PMI。普遍的看涨期权为64.6，比3月份的数据高出一个百分点。3月份的读数是该指数的历史新高。</blockquote></p><p><b>Thursday 5/6</b></p><p><blockquote><b>星期四5/6</b></blockquote></p><p>Anheuser-Busch InBev,Becton Dickinson,Expedia Group,Fidelity National Information Services,Kellogg, Linde,MetLife,Moderna, Regeneron Pharmaceuticals, Square, ViacomCBS, and&nbsp;Zoetishold conference calls to discuss quarterly results.</p><p><blockquote>百威英博、Becton Dickinson、Expedia Group、富达国家信息服务公司、家乐氏、林德、大都会人寿、Moderna、再生元制药、Square、ViacomCBS和Zoetishold在评级召开会议讨论季度业绩。</blockquote></p><p><b>The Department of Labor</b>&nbsp;reports initial jobless claims for the week ending on May 1. Initial jobless claims have averaged 611,750 a week in April and are at their lowest level since March of last year.</p><p><blockquote><b>劳工部</b>报告截至5月1日当周首次申请失业救济人数。4月份平均每周初请失业金人数为611,750人，处于去年3月以来的最低水平。</blockquote></p><p><b>The Bureau of Labor</b>&nbsp;Statistics reports labor costs and productivity for the first quarter. Expectations are for a seasonally adjusted annual rate of 2.2% productivity growth, compared with a 4.2% decline in the fourth quarter of 2020. Unit labor costs are seen falling 0.4% after rising 6% previously.</p><p><blockquote><b>劳工局</b>统计数据报告了第一季度的劳动力成本和生产率。预计经季节调整后的生产率年增长率为2.2%，而2020年第四季度为下降4.2%。单位劳动力成本在此前上涨6%后预计将下降0.4%。</blockquote></p><p><b>Friday 5/7</b></p><p><blockquote><b>星期五5/7</b></blockquote></p><p><b>The Bureau of Labor</b>&nbsp;Statistics releases the jobs report for April. Economists forecast a gain of 975,000 in nonfarm payroll employment. The unemployment rate is expected to edge down to 5.8% from 6%.</p><p><blockquote><b>劳工局</b>统计局发布四月份就业报告。经济学家预测非农就业人数将增加975,000人。失业率预计将从6%小幅降至5.8%。</blockquote></p><p>Cigna and&nbsp;<b>Liberty Media</b>&nbsp;report earnings.</p><p><blockquote>信诺和<b>自由媒体</b>报告收益。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Uber, Pfizer, PayPal, T-Mobile, ViacomCBS, General Motors, and Other Stocks for Investors to Watch This Week<blockquote>Uber、辉瑞、PayPal、T-Mobile、ViacomCBS、General Motors等本周值得投资者关注的股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUber, Pfizer, PayPal, T-Mobile, ViacomCBS, General Motors, and Other Stocks for Investors to Watch This Week<blockquote>Uber、辉瑞、PayPal、T-Mobile、ViacomCBS、General Motors等本周值得投资者关注的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-05-03 07:49</span>\n</p>\n</h4>\n</header>\n<article>\n<p>It’s another packed week of earnings reports, with 130 S&amp;P 500 companies on deck to release their first-quarter results. Estée Lauder is among Monday’s highlights, before things pick up on Tuesday:&nbsp;Activision Blizzard, CVS Health, DuPont, Pfizer, and T-Mobile US all report.</p><p><blockquote>又是财报密集的一周，130家标普500公司即将发布第一季度业绩。雅诗兰黛是周一的亮点之一，周二情况有所好转：动视暴雪、CVS Health、杜邦、辉瑞和T-Mobile US均报告。</blockquote></p><p>On Wednesday,&nbsp;Barrick Gold, Booking Holdings, General Motors, PayPal Holdings, and Uber Technologies release earnings.&nbsp;Anheuser-Busch InBev, Moderna, Regeneron Pharmaceuticals, Square, and ViacomCBS go on Thursday. And finally, Cigna closes the week on&nbsp;Friday.</p><p><blockquote>周三，Barrick Gold、Booking Holdings、General Motors、PayPal控股和Uber Technologies将发布财报。百威英博、Moderna、再生元制药、Square和ViacomCBS将于周四发布。最后，Cigna将于周五结束这一周。</blockquote></p><p><img src=\"https://static.tigerbbs.com/e1a866fbe5118566e68842053d76e2b9\" tg-width=\"1382\" tg-height=\"750\"></p><p><blockquote></blockquote></p><p>On the economic calendar this week, the&nbsp;main event will jobs Friday.&nbsp;The Bureau of Labor Statistics is forecast to report a gain of 975,000 nonfarm payrolls in April, and an unemployment rate of 5.8%—down from 6% a month earlier.</p><p><blockquote>在本周的经济日历上，主要事件将是周五的就业。美国劳工统计局预计将报告4月份非农就业人数增加97.5万人，失业率为5.8%，低于一个月前的6%。</blockquote></p><p>Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for April on Monday and its&nbsp;Services equivalent on Wednesday.</p><p><blockquote>本周公布的其他数据包括供应管理协会周一公布的4月份制造业采购经理人指数和周三公布的服务业采购经理人指数。</blockquote></p><p>Enterprise Products Partners&nbsp;and Estée Lauder release earnings.</p><p><blockquote>企业产品合作伙伴和雅诗兰黛发布收益。</blockquote></p><p>Merck and&nbsp;Public Storage&nbsp;hold virtual investor days.</p><p><blockquote>默克和Public Storage举办虚拟投资者日。</blockquote></p><p><b>The Census Bureau</b>&nbsp;reports construction-spending data for March. Consensus estimate is for a 0.6% month-over-month increase in construction spending to a seasonally adjusted annual rate of $1.53 trillion.</p><p><blockquote><b>人口普查局</b>报告三月份建筑支出数据。市场普遍预计建筑支出环比增长0.6%，经季节调整后的年率为1.53万亿美元。</blockquote></p><p><b>The Institute for Supply</b>&nbsp;Management releases its Manufacturing Purchasing Managers’ Index for April. Economists forecast a 65 reading, roughly even with the March figure. The March reading was the highest for the index since December 1983.</p><p><blockquote><b>供应研究所</b>管理层发布四月份制造业采购经理人指数。经济学家预测为65，与3月份的数据大致持平。3月份的读数是该指数自1983年12月以来的最高值。</blockquote></p><p><b>Tuesday 5/4</b></p><p><blockquote><b>星期二5/4</b></blockquote></p><p>Activision Blizzard,ConocoPhillips, Cummins, CVS Health,Dominion Energy,DuPont, Eaton, Pfizer,Sysco,and T-Mobile US report quarterly results.</p><p><blockquote>动视暴雪、康菲石油公司、康明斯、CVS Health、Dominion Energy、杜邦、伊顿、辉瑞、Sysco和T-Mobile US报告季度业绩。</blockquote></p><p>Eli Lilly&nbsp;holds a conference call to discuss its sustainability initiatives.</p><p><blockquote>礼来公司召开电话会议讨论其可持续发展计划。</blockquote></p><p>Union Pacific&nbsp;holds its 2021 virtual investor day.</p><p><blockquote>联合太平洋公司举办2021年虚拟投资者日。</blockquote></p><p><b>Wednesday 5/5</b></p><p><blockquote><b>星期三5/5</b></blockquote></p><p>Barrick Gold, Booking Holdings,BorgWarner,Emerson Electric,General Motors,Hilton Worldwide Holdings,Novo Nordisk,PayPal Holdings, and Uber Technologies release earnings.</p><p><blockquote>Barrick Gold、Booking Holdings、BorgWarner、Emerson Electric、General Motors、Hilton Worldwide Holdings、Novo Nordisk、PayPal控股和Uber Technologies发布财报。</blockquote></p><p><b>ADP releases</b>&nbsp;its National Employment Report for April. Expectations are for a gain of 762,500 jobs in private-sector employment after a 517,000 increase in March.</p><p><blockquote><b>ADP释放</b>四月份全国就业报告。继3月份增加517,000个工作岗位后，预计私营部门就业岗位将增加762,500个。</blockquote></p><p><b>ISM releases</b>&nbsp;its Services PMI for April. The consensus call is for a 64.6 reading, a tick higher than the March data. The March reading was an all-time high for the index.</p><p><blockquote><b>ISM版本</b>4月份服务业PMI。普遍的看涨期权为64.6，比3月份的数据高出一个百分点。3月份的读数是该指数的历史新高。</blockquote></p><p><b>Thursday 5/6</b></p><p><blockquote><b>星期四5/6</b></blockquote></p><p>Anheuser-Busch InBev,Becton Dickinson,Expedia Group,Fidelity National Information Services,Kellogg, Linde,MetLife,Moderna, Regeneron Pharmaceuticals, Square, ViacomCBS, and&nbsp;Zoetishold conference calls to discuss quarterly results.</p><p><blockquote>百威英博、Becton Dickinson、Expedia Group、富达国家信息服务公司、家乐氏、林德、大都会人寿、Moderna、再生元制药、Square、ViacomCBS和Zoetishold在评级召开会议讨论季度业绩。</blockquote></p><p><b>The Department of Labor</b>&nbsp;reports initial jobless claims for the week ending on May 1. Initial jobless claims have averaged 611,750 a week in April and are at their lowest level since March of last year.</p><p><blockquote><b>劳工部</b>报告截至5月1日当周首次申请失业救济人数。4月份平均每周初请失业金人数为611,750人，处于去年3月以来的最低水平。</blockquote></p><p><b>The Bureau of Labor</b>&nbsp;Statistics reports labor costs and productivity for the first quarter. Expectations are for a seasonally adjusted annual rate of 2.2% productivity growth, compared with a 4.2% decline in the fourth quarter of 2020. Unit labor costs are seen falling 0.4% after rising 6% previously.</p><p><blockquote><b>劳工局</b>统计数据报告了第一季度的劳动力成本和生产率。预计经季节调整后的生产率年增长率为2.2%，而2020年第四季度为下降4.2%。单位劳动力成本在此前上涨6%后预计将下降0.4%。</blockquote></p><p><b>Friday 5/7</b></p><p><blockquote><b>星期五5/7</b></blockquote></p><p><b>The Bureau of Labor</b>&nbsp;Statistics releases the jobs report for April. Economists forecast a gain of 975,000 in nonfarm payroll employment. The unemployment rate is expected to edge down to 5.8% from 6%.</p><p><blockquote><b>劳工局</b>统计局发布四月份就业报告。经济学家预测非农就业人数将增加975,000人。失业率预计将从6%小幅降至5.8%。</blockquote></p><p>Cigna and&nbsp;<b>Liberty Media</b>&nbsp;report earnings.</p><p><blockquote>信诺和<b>自由媒体</b>报告收益。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/uber-pfizer-paypal-t-mobile-viacomcbs-general-motors-and-other-stocks-for-investors-to-watch-this-week-51619982000?mod=hp_LEADSUPP_2\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TMUS":"T-Mobile US Inc",".IXIC":"NASDAQ Composite","GM":"通用汽车",".DJI":"道琼斯","UBER":"优步",".SPX":"S&P 500 Index","PYPL":"PayPal","PFE":"辉瑞"},"source_url":"https://www.barrons.com/articles/uber-pfizer-paypal-t-mobile-viacomcbs-general-motors-and-other-stocks-for-investors-to-watch-this-week-51619982000?mod=hp_LEADSUPP_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135819410","content_text":"It’s another packed week of earnings reports, with 130 S&P 500 companies on deck to release their first-quarter results. Estée Lauder is among Monday’s highlights, before things pick up on Tuesday: Activision Blizzard, CVS Health, DuPont, Pfizer, and T-Mobile US all report.On Wednesday, Barrick Gold, Booking Holdings, General Motors, PayPal Holdings, and Uber Technologies release earnings. Anheuser-Busch InBev, Moderna, Regeneron Pharmaceuticals, Square, and ViacomCBS go on Thursday. And finally, Cigna closes the week on Friday.On the economic calendar this week, the main event will jobs Friday. The Bureau of Labor Statistics is forecast to report a gain of 975,000 nonfarm payrolls in April, and an unemployment rate of 5.8%—down from 6% a month earlier.Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for April on Monday and its Services equivalent on Wednesday.Enterprise Products Partners and Estée Lauder release earnings.Merck and Public Storage hold virtual investor days.The Census Bureau reports construction-spending data for March. Consensus estimate is for a 0.6% month-over-month increase in construction spending to a seasonally adjusted annual rate of $1.53 trillion.The Institute for Supply Management releases its Manufacturing Purchasing Managers’ Index for April. Economists forecast a 65 reading, roughly even with the March figure. The March reading was the highest for the index since December 1983.Tuesday 5/4Activision Blizzard,ConocoPhillips, Cummins, CVS Health,Dominion Energy,DuPont, Eaton, Pfizer,Sysco,and T-Mobile US report quarterly results.Eli Lilly holds a conference call to discuss its sustainability initiatives.Union Pacific holds its 2021 virtual investor day.Wednesday 5/5Barrick Gold, Booking Holdings,BorgWarner,Emerson Electric,General Motors,Hilton Worldwide Holdings,Novo Nordisk,PayPal Holdings, and Uber Technologies release earnings.ADP releases its National Employment Report for April. Expectations are for a gain of 762,500 jobs in private-sector employment after a 517,000 increase in March.ISM releases its Services PMI for April. The consensus call is for a 64.6 reading, a tick higher than the March data. The March reading was an all-time high for the index.Thursday 5/6Anheuser-Busch InBev,Becton Dickinson,Expedia Group,Fidelity National Information Services,Kellogg, Linde,MetLife,Moderna, Regeneron Pharmaceuticals, Square, ViacomCBS, and Zoetishold conference calls to discuss quarterly results.The Department of Labor reports initial jobless claims for the week ending on May 1. Initial jobless claims have averaged 611,750 a week in April and are at their lowest level since March of last year.The Bureau of Labor Statistics reports labor costs and productivity for the first quarter. Expectations are for a seasonally adjusted annual rate of 2.2% productivity growth, compared with a 4.2% decline in the fourth quarter of 2020. Unit labor costs are seen falling 0.4% after rising 6% previously.Friday 5/7The Bureau of Labor Statistics releases the jobs report for April. Economists forecast a gain of 975,000 in nonfarm payroll employment. The unemployment rate is expected to edge down to 5.8% from 6%.Cigna and Liberty Media report earnings.","news_type":1,"symbols_score_info":{"UBER":0.9,"PFE":0.9,".DJI":0.9,"GM":0.9,"TMUS":0.9,".IXIC":0.9,".SPX":0.9,"VIACP":0.9,"PYPL":0.9}},"isVote":1,"tweetType":1,"viewCount":511,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":108842245,"gmtCreate":1620014011887,"gmtModify":1634208514708,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563007583951606","idStr":"3563007583951606"},"themes":[],"htmlText":"praying for the people in India. on another note, can this be reflected in our petrol prices? 😩","listText":"praying for the people in India. on another note, can this be reflected in our petrol prices? 😩","text":"praying for the people in India. on another note, can this be reflected in our petrol prices? 😩","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/108842245","repostId":"2132853599","repostType":4,"isVote":1,"tweetType":1,"viewCount":629,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":370025635,"gmtCreate":1618537664327,"gmtModify":1634292239017,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563007583951606","idStr":"3563007583951606"},"themes":[],"htmlText":"And we thought&nbsp;disney+ would kill them","listText":"And we thought&nbsp;disney+ would kill them","text":"And we thought disney+ would kill them","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/370025635","repostId":"2127488977","repostType":4,"isVote":1,"tweetType":1,"viewCount":578,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174191277,"gmtCreate":1627084359999,"gmtModify":1631894050969,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563007583951606","idStr":"3563007583951606"},"themes":[],"htmlText":"Comment","listText":"Comment","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/174191277","repostId":"2153980423","repostType":4,"isVote":1,"tweetType":1,"viewCount":1497,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":193263961,"gmtCreate":1620791527853,"gmtModify":1634196259261,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563007583951606","idStr":"3563007583951606"},"themes":[],"htmlText":"Good luck","listText":"Good luck","text":"Good luck","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/193263961","repostId":"2134698127","repostType":4,"isVote":1,"tweetType":1,"viewCount":358,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181591101,"gmtCreate":1623400160203,"gmtModify":1631894051065,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563007583951606","idStr":"3563007583951606"},"themes":[],"htmlText":"Support local businesses 😂","listText":"Support local businesses 😂","text":"Support local businesses 😂","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/181591101","repostId":"2142274705","repostType":4,"isVote":1,"tweetType":1,"viewCount":1306,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":378068269,"gmtCreate":1618981052051,"gmtModify":1634289428825,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563007583951606","idStr":"3563007583951606"},"themes":[],"htmlText":"Patience! but more importantly, don’t invest with money you cannot afford","listText":"Patience! but more importantly, don’t invest with money you cannot afford","text":"Patience! but more importantly, don’t invest with money you cannot afford","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/378068269","repostId":"1148637565","repostType":4,"repost":{"id":"1148637565","kind":"news","pubTimestamp":1618977720,"share":"https://www.laohu8.com/m/news/1148637565?lang=zh_CN&edition=full","pubTime":"2021-04-21 12:02","market":"us","language":"en","title":"Why Growth Stocks’ Rebound Doesn’t Mean Value’s Comeback Is Over<blockquote>为什么成长型股票的反弹并不意味着价值股的回归已经结束</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1148637565","media":"Barron's","summary":"Stocks like Apple and Tesla are again leading the market, raising questions about whether a short re","content":"<p>Stocks like Apple and Tesla are again leading the market, raising questions about whether a short reprieve for shares of companies closely linked to the economy—overlooked for close to a decade—may already be over. But the market’s latest moves may indicate only a pause, rather than a reversal in value’s comeback.</p><p><blockquote>苹果和特斯拉等股票再次引领市场，引发了人们的疑问：与经济密切相关的公司股票（被忽视了近十年）的短暂喘息是否已经结束。但市场的最新走势可能只表明暂停，而不是价值回归的逆转。</blockquote></p><p>Value stocks, or those that typically trade at a low multiples versus their cash flow or other metrics, had started to perk up late last year. News of a vaccine for Covid-19 raised hope for a strong global recovery and bolstered the outlooks for financials, manufacturers, energy, and other commodity-oriented companies.</p><p><blockquote>价值股，或那些相对于现金流或其他指标通常以较低倍数交易的股票，在去年年底开始回升。Covid-19疫苗的消息引发了全球强劲复苏的希望，并提振了金融、制造商、能源和其他大宗商品公司的前景。</blockquote></p><p>But a recent decline in interest rates and inflation expectations has led to another reversal. TheiShares S&amp;P 500 ValueETF (ticker: IVE) has gained 3.7% in the past month while theiShares S&amp;P 500 GrowthETF (IVW) is up 7.7%. In a note to clients on Tuesday, Nicholas Colas, co-founder of DataTrek Research, attributed growth’s recent outperformance to five companies:Apple(AAPL);Microsoft(MSFT);Amazon.com(AMZN); Google’s owner, Alphabet (GOOG); andTesla(TSLA)<b>.</b></p><p><blockquote>但最近利率和通胀预期的下降导致了另一个逆转。iShares标普500价值ETF（股票代码：IVE）在过去一个月上涨了3.7%，而iShares标普500增长ETF（IVW）上涨了7.7%。DataTrek Research联合创始人Nicholas Colas在周二给客户的一份报告中将growth最近的优异表现归功于五家公司：苹果(AAPL)；微软（MSFT）；亚马逊（AMZN）；谷歌的所有者Alphabet(GOOG)；和特斯拉(TSLA)<b>.</b></blockquote></p><p>“A sudden rotation into brand-name growth stocks isn’t typically a good sign for markets over the near term,” Colas wrote. Investors took cover in big-cap tech stocks as markets swooned last year, and the fact that money has been flowing back into them lately could suggest people are hitting pause on their reopening plays, before adding to their holdings of more cyclical stocks. Investors may be waiting to see more proof that the recovery will come through, he said.</p><p><blockquote>科拉斯写道：“短期内，突然转向品牌成长型股票对市场来说通常不是一个好兆头。”去年市场暴跌时，投资者纷纷买入大型科技股，而最近资金又重新流入这些股的事实可能表明，人们在增持更具周期性的股票之前，正在暂停重新开放的投资。他表示，投资者可能正在等待更多复苏将会到来的证据。</blockquote></p><p>Morgan Stanley Wealth Management’sLisa Shalett is also skeptical of the recent resurgence in growth stocks and the likelihood that the economic rebound this cycle will be narrow, forcing the Federal Reserve to keep interest rates ultralow. Low rates tend to benefit growth stocks more than value.</p><p><blockquote>摩根士丹利财富管理的Lisa Shalett也对近期成长股的复苏以及本周期经济反弹幅度狭窄、迫使美联储维持超低利率的可能性持怀疑态度。低利率往往比价值型股票更有利于成长型股票。</blockquote></p><p>In a note to clients, Shalett said she expects growth this business cycle to be much broader and stronger than in the past one, with credit growth likely to resume. Instead of monetary policy, fiscal policy, whether through infrastructure spending or other stimulus measures, will loom large over the market—potentially contributing to higher inflation.</p><p><blockquote>沙莱特在给客户的一份报告中表示，她预计本商业周期的增长将比上一个周期更广泛、更强劲，信贷增长可能会恢复。财政政策，无论是通过基础设施支出还是其他刺激措施，将取代货币政策，在市场上占据主导地位——可能会导致通胀上升。</blockquote></p><p>Inflation could bring higher interest rates, benefiting banks. Commodity producers would gain as well.</p><p><blockquote>通货膨胀可能会带来更高的利率，使银行受益。大宗商品生产商也将受益。</blockquote></p><p>As a result, she recommends investors tilt toward cyclical stocks, foreign, value, and quality factors.</p><p><blockquote>因此，她建议投资者倾向于周期性股票、外国股票、价值和质量因素。</blockquote></p><p>Indeed, people putting money into passive investment funds still seem to prefer value. As of last week, value exchange-traded funds had recorded 12 consecutive weeks of net inflows, while growth ETFs saw the biggest outflows in six weeks, according to equity and quantitative strategists atBank of America.</p><p><blockquote>事实上，将资金投入被动投资基金的人似乎仍然更喜欢价值。美国银行股票和量化策略师表示，截至上周，价值型交易所交易基金已连续12周录得净流入，而成长型ETF则出现六周来最大的资金流出。</blockquote></p><p>The BofA strategists see more room for value to recover, based on signs they track. For example, value has only outperformed growth by about 20% versus 60% on average, and its outperformance is only in its seventh month, while periods when value beats growth average 33 months. Profit growth also has yet to peak, and money managers are still light on value-oriented stocks, with active funds roughly 30% underweight value.</p><p><blockquote>根据他们跟踪的迹象，美国银行策略师认为价值还有更大的恢复空间。例如，value的表现仅优于增长约20%，而平均为60%，而且其表现仅在第七个月，而value跑赢增长的时期平均为33个月。利润增长也尚未见顶，基金经理仍然不看好价值导向型股票，主动型基金的跑输大盘价值约为30%。</blockquote></p><p>Abhay Deshpande, a veteran value manager and chief investment officer at Centerstone Investors, is fully invested even though markets look expensive.</p><p><blockquote>Centerstone Investors的资深价值经理兼首席投资官阿沛·德什潘德(Abhay Deshpande)尽管市场看起来昂贵，但他仍进行了充分投资。</blockquote></p><p>Many of the opportunities Centerstone has found are popping up in small to midsize companies abroad, including in smaller emerging markets that have been ignored as investors have flocked to big technology stocks and large markets like China. One area Desphande finds attractive: travel and casino companies in emerging Asia as vaccine distribution picks up and a global recovery takes hold.</p><p><blockquote>Centerstone发现的许多机会正在海外中小型公司中涌现，包括规模较小的新兴市场，这些市场因投资者纷纷涌向大型科技股和中国等大型市场而被忽视。Desphande发现有一个领域很有吸引力：随着疫苗分发的增加和全球复苏的到来，新兴亚洲的旅游和赌场公司。</blockquote></p><p>Larry Pitkowsky, manager of theGoodHaven(GOODX) fund, also thinks markets are pricey, but he is finding the quality value stocks he tends to favor amid financials. The market hasn’t fully priced in the benefit to financial companies as interest rates rise, Pitkowsky believes, so he is adding to his holdings of stocks likeProgressive(PGR). The insurer offers a high return on capital, growing revenue, and a strong management, but the stock is trading relatively cheaply, at multiples in the midteens, he said.</p><p><blockquote>GoodHaven(GOODX)基金经理拉里·皮特科斯基(Larry Pitkowsky)也认为市场价格昂贵，但他正在寻找金融股中他倾向于青睐的优质价值股票。皮特科夫斯基认为，市场尚未完全消化利率上升给金融公司带来的好处，因此他正在增持Progressive(PGR)等股票。他表示，该保险公司提供较高的资本回报率、不断增长的收入和强大的管理层，但该股的交易价格相对便宜，市盈率在十几倍左右。</blockquote></p><p></p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Growth Stocks’ Rebound Doesn’t Mean Value’s Comeback Is Over<blockquote>为什么成长型股票的反弹并不意味着价值股的回归已经结束</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Growth Stocks’ Rebound Doesn’t Mean Value’s Comeback Is Over<blockquote>为什么成长型股票的反弹并不意味着价值股的回归已经结束</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-04-21 12:02</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Stocks like Apple and Tesla are again leading the market, raising questions about whether a short reprieve for shares of companies closely linked to the economy—overlooked for close to a decade—may already be over. But the market’s latest moves may indicate only a pause, rather than a reversal in value’s comeback.</p><p><blockquote>苹果和特斯拉等股票再次引领市场，引发了人们的疑问：与经济密切相关的公司股票（被忽视了近十年）的短暂喘息是否已经结束。但市场的最新走势可能只表明暂停，而不是价值回归的逆转。</blockquote></p><p>Value stocks, or those that typically trade at a low multiples versus their cash flow or other metrics, had started to perk up late last year. News of a vaccine for Covid-19 raised hope for a strong global recovery and bolstered the outlooks for financials, manufacturers, energy, and other commodity-oriented companies.</p><p><blockquote>价值股，或那些相对于现金流或其他指标通常以较低倍数交易的股票，在去年年底开始回升。Covid-19疫苗的消息引发了全球强劲复苏的希望，并提振了金融、制造商、能源和其他大宗商品公司的前景。</blockquote></p><p>But a recent decline in interest rates and inflation expectations has led to another reversal. TheiShares S&amp;P 500 ValueETF (ticker: IVE) has gained 3.7% in the past month while theiShares S&amp;P 500 GrowthETF (IVW) is up 7.7%. In a note to clients on Tuesday, Nicholas Colas, co-founder of DataTrek Research, attributed growth’s recent outperformance to five companies:Apple(AAPL);Microsoft(MSFT);Amazon.com(AMZN); Google’s owner, Alphabet (GOOG); andTesla(TSLA)<b>.</b></p><p><blockquote>但最近利率和通胀预期的下降导致了另一个逆转。iShares标普500价值ETF（股票代码：IVE）在过去一个月上涨了3.7%，而iShares标普500增长ETF（IVW）上涨了7.7%。DataTrek Research联合创始人Nicholas Colas在周二给客户的一份报告中将growth最近的优异表现归功于五家公司：苹果(AAPL)；微软（MSFT）；亚马逊（AMZN）；谷歌的所有者Alphabet(GOOG)；和特斯拉(TSLA)<b>.</b></blockquote></p><p>“A sudden rotation into brand-name growth stocks isn’t typically a good sign for markets over the near term,” Colas wrote. Investors took cover in big-cap tech stocks as markets swooned last year, and the fact that money has been flowing back into them lately could suggest people are hitting pause on their reopening plays, before adding to their holdings of more cyclical stocks. Investors may be waiting to see more proof that the recovery will come through, he said.</p><p><blockquote>科拉斯写道：“短期内，突然转向品牌成长型股票对市场来说通常不是一个好兆头。”去年市场暴跌时，投资者纷纷买入大型科技股，而最近资金又重新流入这些股的事实可能表明，人们在增持更具周期性的股票之前，正在暂停重新开放的投资。他表示，投资者可能正在等待更多复苏将会到来的证据。</blockquote></p><p>Morgan Stanley Wealth Management’sLisa Shalett is also skeptical of the recent resurgence in growth stocks and the likelihood that the economic rebound this cycle will be narrow, forcing the Federal Reserve to keep interest rates ultralow. Low rates tend to benefit growth stocks more than value.</p><p><blockquote>摩根士丹利财富管理的Lisa Shalett也对近期成长股的复苏以及本周期经济反弹幅度狭窄、迫使美联储维持超低利率的可能性持怀疑态度。低利率往往比价值型股票更有利于成长型股票。</blockquote></p><p>In a note to clients, Shalett said she expects growth this business cycle to be much broader and stronger than in the past one, with credit growth likely to resume. Instead of monetary policy, fiscal policy, whether through infrastructure spending or other stimulus measures, will loom large over the market—potentially contributing to higher inflation.</p><p><blockquote>沙莱特在给客户的一份报告中表示，她预计本商业周期的增长将比上一个周期更广泛、更强劲，信贷增长可能会恢复。财政政策，无论是通过基础设施支出还是其他刺激措施，将取代货币政策，在市场上占据主导地位——可能会导致通胀上升。</blockquote></p><p>Inflation could bring higher interest rates, benefiting banks. Commodity producers would gain as well.</p><p><blockquote>通货膨胀可能会带来更高的利率，使银行受益。大宗商品生产商也将受益。</blockquote></p><p>As a result, she recommends investors tilt toward cyclical stocks, foreign, value, and quality factors.</p><p><blockquote>因此，她建议投资者倾向于周期性股票、外国股票、价值和质量因素。</blockquote></p><p>Indeed, people putting money into passive investment funds still seem to prefer value. As of last week, value exchange-traded funds had recorded 12 consecutive weeks of net inflows, while growth ETFs saw the biggest outflows in six weeks, according to equity and quantitative strategists atBank of America.</p><p><blockquote>事实上，将资金投入被动投资基金的人似乎仍然更喜欢价值。美国银行股票和量化策略师表示，截至上周，价值型交易所交易基金已连续12周录得净流入，而成长型ETF则出现六周来最大的资金流出。</blockquote></p><p>The BofA strategists see more room for value to recover, based on signs they track. For example, value has only outperformed growth by about 20% versus 60% on average, and its outperformance is only in its seventh month, while periods when value beats growth average 33 months. Profit growth also has yet to peak, and money managers are still light on value-oriented stocks, with active funds roughly 30% underweight value.</p><p><blockquote>根据他们跟踪的迹象，美国银行策略师认为价值还有更大的恢复空间。例如，value的表现仅优于增长约20%，而平均为60%，而且其表现仅在第七个月，而value跑赢增长的时期平均为33个月。利润增长也尚未见顶，基金经理仍然不看好价值导向型股票，主动型基金的跑输大盘价值约为30%。</blockquote></p><p>Abhay Deshpande, a veteran value manager and chief investment officer at Centerstone Investors, is fully invested even though markets look expensive.</p><p><blockquote>Centerstone Investors的资深价值经理兼首席投资官阿沛·德什潘德(Abhay Deshpande)尽管市场看起来昂贵，但他仍进行了充分投资。</blockquote></p><p>Many of the opportunities Centerstone has found are popping up in small to midsize companies abroad, including in smaller emerging markets that have been ignored as investors have flocked to big technology stocks and large markets like China. One area Desphande finds attractive: travel and casino companies in emerging Asia as vaccine distribution picks up and a global recovery takes hold.</p><p><blockquote>Centerstone发现的许多机会正在海外中小型公司中涌现，包括规模较小的新兴市场，这些市场因投资者纷纷涌向大型科技股和中国等大型市场而被忽视。Desphande发现有一个领域很有吸引力：随着疫苗分发的增加和全球复苏的到来，新兴亚洲的旅游和赌场公司。</blockquote></p><p>Larry Pitkowsky, manager of theGoodHaven(GOODX) fund, also thinks markets are pricey, but he is finding the quality value stocks he tends to favor amid financials. The market hasn’t fully priced in the benefit to financial companies as interest rates rise, Pitkowsky believes, so he is adding to his holdings of stocks likeProgressive(PGR). The insurer offers a high return on capital, growing revenue, and a strong management, but the stock is trading relatively cheaply, at multiples in the midteens, he said.</p><p><blockquote>GoodHaven(GOODX)基金经理拉里·皮特科斯基(Larry Pitkowsky)也认为市场价格昂贵，但他正在寻找金融股中他倾向于青睐的优质价值股票。皮特科夫斯基认为，市场尚未完全消化利率上升给金融公司带来的好处，因此他正在增持Progressive(PGR)等股票。他表示，该保险公司提供较高的资本回报率、不断增长的收入和强大的管理层，但该股的交易价格相对便宜，市盈率在十几倍左右。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/growth-stocks-rebound-doesnt-mean-values-comeback-is-over-51618948792?mod=hp_LEADSUPP_1\">Barron's</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.barrons.com/articles/growth-stocks-rebound-doesnt-mean-values-comeback-is-over-51618948792?mod=hp_LEADSUPP_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148637565","content_text":"Stocks like Apple and Tesla are again leading the market, raising questions about whether a short reprieve for shares of companies closely linked to the economy—overlooked for close to a decade—may already be over. But the market’s latest moves may indicate only a pause, rather than a reversal in value’s comeback.Value stocks, or those that typically trade at a low multiples versus their cash flow or other metrics, had started to perk up late last year. News of a vaccine for Covid-19 raised hope for a strong global recovery and bolstered the outlooks for financials, manufacturers, energy, and other commodity-oriented companies.But a recent decline in interest rates and inflation expectations has led to another reversal. TheiShares S&P 500 ValueETF (ticker: IVE) has gained 3.7% in the past month while theiShares S&P 500 GrowthETF (IVW) is up 7.7%. In a note to clients on Tuesday, Nicholas Colas, co-founder of DataTrek Research, attributed growth’s recent outperformance to five companies:Apple(AAPL);Microsoft(MSFT);Amazon.com(AMZN); Google’s owner, Alphabet (GOOG); andTesla(TSLA).“A sudden rotation into brand-name growth stocks isn’t typically a good sign for markets over the near term,” Colas wrote. Investors took cover in big-cap tech stocks as markets swooned last year, and the fact that money has been flowing back into them lately could suggest people are hitting pause on their reopening plays, before adding to their holdings of more cyclical stocks. Investors may be waiting to see more proof that the recovery will come through, he said.Morgan Stanley Wealth Management’sLisa Shalett is also skeptical of the recent resurgence in growth stocks and the likelihood that the economic rebound this cycle will be narrow, forcing the Federal Reserve to keep interest rates ultralow. Low rates tend to benefit growth stocks more than value.In a note to clients, Shalett said she expects growth this business cycle to be much broader and stronger than in the past one, with credit growth likely to resume. Instead of monetary policy, fiscal policy, whether through infrastructure spending or other stimulus measures, will loom large over the market—potentially contributing to higher inflation.Inflation could bring higher interest rates, benefiting banks. Commodity producers would gain as well.As a result, she recommends investors tilt toward cyclical stocks, foreign, value, and quality factors.Indeed, people putting money into passive investment funds still seem to prefer value. As of last week, value exchange-traded funds had recorded 12 consecutive weeks of net inflows, while growth ETFs saw the biggest outflows in six weeks, according to equity and quantitative strategists atBank of America.The BofA strategists see more room for value to recover, based on signs they track. For example, value has only outperformed growth by about 20% versus 60% on average, and its outperformance is only in its seventh month, while periods when value beats growth average 33 months. Profit growth also has yet to peak, and money managers are still light on value-oriented stocks, with active funds roughly 30% underweight value.Abhay Deshpande, a veteran value manager and chief investment officer at Centerstone Investors, is fully invested even though markets look expensive.Many of the opportunities Centerstone has found are popping up in small to midsize companies abroad, including in smaller emerging markets that have been ignored as investors have flocked to big technology stocks and large markets like China. One area Desphande finds attractive: travel and casino companies in emerging Asia as vaccine distribution picks up and a global recovery takes hold.Larry Pitkowsky, manager of theGoodHaven(GOODX) fund, also thinks markets are pricey, but he is finding the quality value stocks he tends to favor amid financials. The market hasn’t fully priced in the benefit to financial companies as interest rates rise, Pitkowsky believes, so he is adding to his holdings of stocks likeProgressive(PGR). The insurer offers a high return on capital, growing revenue, and a strong management, but the stock is trading relatively cheaply, at multiples in the midteens, he said.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,"SPY":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":497,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167141873,"gmtCreate":1624254719892,"gmtModify":1631894050996,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563007583951606","idStr":"3563007583951606"},"themes":[],"htmlText":"Tell me your opinion about this news...","listText":"Tell me your opinion about this news...","text":"Tell me your opinion about this news...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/167141873","repostId":"1151664333","repostType":4,"isVote":1,"tweetType":1,"viewCount":1948,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":109275039,"gmtCreate":1619703216721,"gmtModify":1634210592953,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563007583951606","idStr":"3563007583951606"},"themes":[],"htmlText":"Will anyone stand up to facebook? wait, CAN anyone?","listText":"Will anyone stand up to facebook? wait, CAN anyone?","text":"Will anyone stand up to facebook? wait, CAN anyone?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/109275039","repostId":"1106835100","repostType":4,"isVote":1,"tweetType":1,"viewCount":524,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347039026,"gmtCreate":1618448159165,"gmtModify":1634292889476,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563007583951606","idStr":"3563007583951606"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/347039026","repostId":"1145468327","repostType":4,"isVote":1,"tweetType":1,"viewCount":184,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169330661,"gmtCreate":1623816338153,"gmtModify":1631894051046,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563007583951606","idStr":"3563007583951606"},"themes":[],"htmlText":"Make more babies. But too expensive to raise a child, comfortably at least","listText":"Make more babies. But too expensive to raise a child, comfortably at least","text":"Make more babies. But too expensive to raise a child, comfortably at least","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/169330661","repostId":"1191543581","repostType":4,"isVote":1,"tweetType":1,"viewCount":1674,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":825975859,"gmtCreate":1634196338890,"gmtModify":1634196338988,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563007583951606","idStr":"3563007583951606"},"themes":[],"htmlText":"Really?","listText":"Really?","text":"Really?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/825975859","repostId":"1155561431","repostType":4,"repost":{"id":"1155561431","kind":"news","pubTimestamp":1634196182,"share":"https://www.laohu8.com/m/news/1155561431?lang=zh_CN&edition=full","pubTime":"2021-10-14 15:23","market":"us","language":"en","title":"Apple Stock Still a Buy After Output Reports: Analyst Huberty<blockquote>分析师休伯蒂：产出报告发布后，苹果股票仍值得买入</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1155561431","media":"TheStreet","summary":"Morgan Stanley analyst Katy Huberty reiterated an overweight rating on Apple after reports that iPho","content":"<p>Morgan Stanley analyst Katy Huberty reiterated an overweight rating on Apple after reports that iPhone output might be hindered by the global chip shortage.</p><p><blockquote>摩根士丹利分析师Katy Huberty重申了对苹果的跑赢大盘评级，此前有报道称iPhone产量可能受到全球芯片短缺的阻碍。</blockquote></p><p> Morgan Stanley analyst Katy Huberty on Wednesday urged investors to buy the dip in Apple&nbsp;despite&nbsp;reports that the tech giant may need to cut production of its signature iPhone 13 by as much as 10 million units due to the global chip shortage.</p><p><blockquote>摩根士丹利分析师Katy Huberty周三敦促投资者逢低买入苹果，尽管有报道称，由于全球芯片短缺，这家科技巨头可能需要将其标志性iPhone 13的产量削减多达1000万部。</blockquote></p><p> \"We are buyers of any near-term Apple share price weakness on iPhone supply-chain disruption given Apple is likely to receive more supply than competitors, demand isn't perishable,\" Huberty wrote in a note.</p><p><blockquote>休伯蒂在一份报告中写道：“鉴于苹果可能比竞争对手获得更多的供应，因此苹果股价近期因iPhone供应链中断而疲软，我们都是买家，需求不会消失。”</blockquote></p><p> \"If Apple can't meet near-term demand, the shortfall is likely to be even greater at competitors, creating an opportunity for share gains,\" she wrote in a note published Wednesday.</p><p><blockquote>她在周三发布的一份报告中写道：“如果苹果无法满足近期需求，竞争对手的缺口可能会更大，从而为份额增长创造机会。”</blockquote></p><p> Shares of the Cupertino, Calif., company on&nbsp;Wednesday slipped 0.4% to $140.91.</p><p><blockquote>这家位于加利福尼亚州库比蒂诺的公司股价周三下跌0.4%，至140.91美元。</blockquote></p><p> The investment firm maintained its overweight rating on the stock with a price target of $168 a share.</p><p><blockquote>该投资公司维持该股的跑赢大盘评级，目标价为每股168美元。</blockquote></p><p> \"While we have not specifically heard of material iPhone production bottlenecks due to semiconductor shortages at Broadcom&nbsp;or Texas Instruments, broader supply tightness continues to be a real issue across a number of end markets,\" she added.</p><p><blockquote>她补充道：“虽然我们没有具体听说过由于博通或德州仪器半导体短缺而导致iPhone生产出现重大瓶颈，但更广泛的供应紧张仍然是许多终端市场的现实问题。”</blockquote></p><p> Broadcom and Texas Instruments are manufacturing partners for Apple.</p><p><blockquote>博通和德州仪器是苹果的制造合作伙伴。</blockquote></p><p> Apple had expected to produce 90 million new iPhone models in the last three months of the year.</p><p><blockquote>苹果曾预计今年最后三个月将生产9000万部新款iPhone。</blockquote></p><p> But it’s now telling manufacturing partners that the total will be lower because Broadcom and Texas Instruments are struggling to deliver enough components,Bloomberg reported, citing sources.</p><p><blockquote>但据彭博社援引消息人士的话报道，该公司现在告诉制造合作伙伴，总数将会更低，因为博通和德州仪器正在努力交付足够的组件。</blockquote></p><p> \"Our FY22 estimates are unlikely to change materially even if revenue and EPS shift across quarters,\" she added.</p><p><blockquote>她补充道：“即使收入和每股收益跨季度发生变化，我们对2022财年的预测也不太可能发生重大变化。”</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Stock Still a Buy After Output Reports: Analyst Huberty<blockquote>分析师休伯蒂：产出报告发布后，苹果股票仍值得买入</blockquote></title>\n<style 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}\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple Stock Still a Buy After Output Reports: Analyst Huberty<blockquote>分析师休伯蒂：产出报告发布后，苹果股票仍值得买入</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">TheStreet</strong><span class=\"h-time small\">2021-10-14 15:23</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Morgan Stanley analyst Katy Huberty reiterated an overweight rating on Apple after reports that iPhone output might be hindered by the global chip shortage.</p><p><blockquote>摩根士丹利分析师Katy Huberty重申了对苹果的跑赢大盘评级，此前有报道称iPhone产量可能受到全球芯片短缺的阻碍。</blockquote></p><p> Morgan Stanley analyst Katy Huberty on Wednesday urged investors to buy the dip in Apple&nbsp;despite&nbsp;reports that the tech giant may need to cut production of its signature iPhone 13 by as much as 10 million units due to the global chip shortage.</p><p><blockquote>摩根士丹利分析师Katy Huberty周三敦促投资者逢低买入苹果，尽管有报道称，由于全球芯片短缺，这家科技巨头可能需要将其标志性iPhone 13的产量削减多达1000万部。</blockquote></p><p> \"We are buyers of any near-term Apple share price weakness on iPhone supply-chain disruption given Apple is likely to receive more supply than competitors, demand isn't perishable,\" Huberty wrote in a note.</p><p><blockquote>休伯蒂在一份报告中写道：“鉴于苹果可能比竞争对手获得更多的供应，因此苹果股价近期因iPhone供应链中断而疲软，我们都是买家，需求不会消失。”</blockquote></p><p> \"If Apple can't meet near-term demand, the shortfall is likely to be even greater at competitors, creating an opportunity for share gains,\" she wrote in a note published Wednesday.</p><p><blockquote>她在周三发布的一份报告中写道：“如果苹果无法满足近期需求，竞争对手的缺口可能会更大，从而为份额增长创造机会。”</blockquote></p><p> Shares of the Cupertino, Calif., company on&nbsp;Wednesday slipped 0.4% to $140.91.</p><p><blockquote>这家位于加利福尼亚州库比蒂诺的公司股价周三下跌0.4%，至140.91美元。</blockquote></p><p> The investment firm maintained its overweight rating on the stock with a price target of $168 a share.</p><p><blockquote>该投资公司维持该股的跑赢大盘评级，目标价为每股168美元。</blockquote></p><p> \"While we have not specifically heard of material iPhone production bottlenecks due to semiconductor shortages at Broadcom&nbsp;or Texas Instruments, broader supply tightness continues to be a real issue across a number of end markets,\" she added.</p><p><blockquote>她补充道：“虽然我们没有具体听说过由于博通或德州仪器半导体短缺而导致iPhone生产出现重大瓶颈，但更广泛的供应紧张仍然是许多终端市场的现实问题。”</blockquote></p><p> Broadcom and Texas Instruments are manufacturing partners for Apple.</p><p><blockquote>博通和德州仪器是苹果的制造合作伙伴。</blockquote></p><p> Apple had expected to produce 90 million new iPhone models in the last three months of the year.</p><p><blockquote>苹果曾预计今年最后三个月将生产9000万部新款iPhone。</blockquote></p><p> But it’s now telling manufacturing partners that the total will be lower because Broadcom and Texas Instruments are struggling to deliver enough components,Bloomberg reported, citing sources.</p><p><blockquote>但据彭博社援引消息人士的话报道，该公司现在告诉制造合作伙伴，总数将会更低，因为博通和德州仪器正在努力交付足够的组件。</blockquote></p><p> \"Our FY22 estimates are unlikely to change materially even if revenue and EPS shift across quarters,\" she added.</p><p><blockquote>她补充道：“即使收入和每股收益跨季度发生变化，我们对2022财年的预测也不太可能发生重大变化。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/apple-stock-remains-a-buy-morgan-stanley-analyst-huberty\">TheStreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.thestreet.com/investing/apple-stock-remains-a-buy-morgan-stanley-analyst-huberty","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155561431","content_text":"Morgan Stanley analyst Katy Huberty reiterated an overweight rating on Apple after reports that iPhone output might be hindered by the global chip shortage.\nMorgan Stanley analyst Katy Huberty on Wednesday urged investors to buy the dip in Apple despite reports that the tech giant may need to cut production of its signature iPhone 13 by as much as 10 million units due to the global chip shortage.\n\"We are buyers of any near-term Apple share price weakness on iPhone supply-chain disruption given Apple is likely to receive more supply than competitors, demand isn't perishable,\" Huberty wrote in a note.\n\"If Apple can't meet near-term demand, the shortfall is likely to be even greater at competitors, creating an opportunity for share gains,\" she wrote in a note published Wednesday.\nShares of the Cupertino, Calif., company on Wednesday slipped 0.4% to $140.91.\nThe investment firm maintained its overweight rating on the stock with a price target of $168 a share.\n\"While we have not specifically heard of material iPhone production bottlenecks due to semiconductor shortages at Broadcom or Texas Instruments, broader supply tightness continues to be a real issue across a number of end markets,\" she added.\nBroadcom and Texas Instruments are manufacturing partners for Apple.\nApple had expected to produce 90 million new iPhone models in the last three months of the year.\nBut it’s now telling manufacturing partners that the total will be lower because Broadcom and Texas Instruments are struggling to deliver enough components,Bloomberg reported, citing sources.\n\"Our FY22 estimates are unlikely to change materially even if revenue and EPS shift across quarters,\" she added.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":1949,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":166830333,"gmtCreate":1624000537522,"gmtModify":1631894051045,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563007583951606","idStr":"3563007583951606"},"themes":[],"htmlText":"Easy to say, hard to apply","listText":"Easy to say, hard to apply","text":"Easy to say, hard to apply","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166830333","repostId":"2144745081","repostType":4,"repost":{"id":"2144745081","kind":"highlight","pubTimestamp":1623999815,"share":"https://www.laohu8.com/m/news/2144745081?lang=zh_CN&edition=full","pubTime":"2021-06-18 15:03","market":"us","language":"en","title":"Looking for hedges against inflation? Try Apple, Nike, Verizon and stocks with this in common, strategists say<blockquote>寻找通胀对冲工具？策略师表示，尝试苹果、Nike、Verizon和具有此共同点的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2144745081","media":"MarketWatch","summary":"Stocks are set for a poor performance on Thursday, as markets absorb the Federal Reserve's indicatio","content":"<p>Stocks are set for a poor performance on Thursday, as markets absorb the Federal Reserve's indication that interest rate increases are coming sooner than expected, while the central bank remains alert to inflation risks.</p><p><blockquote>周四股市将表现不佳，因为市场吸收了美联储加息时间快于预期的迹象，同时央行仍对通胀风险保持警惕。</blockquote></p><p> \"There is probably no bigger macro issue, both tactically and strategically, than inflation and what this means for portfolios,\" said strategists led by Inigo Fraser Jenkins at Bernstein Research on Thursday.</p><p><blockquote>伯恩斯坦研究公司Inigo Fraser Jenkins领导的策略师周四表示：“无论是战术上还是战略上，可能没有比通胀及其对投资组合的意义更大的宏观问题了。”</blockquote></p><p> Fraser Jenkins and his team have our call of the day: that investors should look to buy shares in companies with a long maturity of debt as an effective hedge against inflation.</p><p><blockquote>Fraser Jenkins和他的团队提出了我们当今的看涨期权：投资者应该购买债务期限较长的公司的股票，作为对冲通胀的有效手段。</blockquote></p><p> Companies issued debt at an astounding rate through the COVID-19 pandemic. Much of it was a necessary move to meet funding needs, but for some groups it was an opportunity to take advantage of the Fed's measures supporting credit markets, which provided an ability to increase the maturity of debt, the strategists said.</p><p><blockquote>公司通过COVID-19大流行以惊人的速度发行债务。策略师表示，这在很大程度上是满足融资需求的必要举措，但对一些群体来说，这是一个利用美联储支持信贷市场措施的机会，这些措施提供了延长债务期限的能力。</blockquote></p><p> According to the team at Bernstein, for companies that have long maturity of debt, have issued fixed-rate debt, and are going concerns -- i.e. can continue operating while meeting financial obligations -- inflation could be a positive thing. \"Inflation would erode the real value of the debt relative to earnings (which are tied to the real economy),\" the strategists said.</p><p><blockquote>伯恩斯坦的团队表示，对于债务期限较长、已发行固定利率债务且持续经营（即可以在履行财务义务的同时继续运营）的公司来说，通货膨胀可能是一件积极的事情。策略师表示：“通胀将侵蚀债务相对于收益（与实体经济挂钩）的实际价值。”</blockquote></p><p> \"There is no one solution\" to finding suitable hedges for inflation, Fraser Jenkins' group said, noting that a good response may involve more equities, real assets, gold, and even crypto assets like bitcoin . But \"another possible string to the inflation-hedging bow\" is companies that emerge from the pandemic with a long maturity of debt.</p><p><blockquote>Fraser Jenkins的团队表示，寻找合适的通胀对冲工具“没有单一的解决方案”，并指出良好的应对措施可能涉及更多股票、实物资产、黄金，甚至比特币等加密资产。但“通胀对冲弓的另一个可能的弦”是那些从疫情中走出来、债务期限较长的公司。</blockquote></p><p> \"A basket of U.S. long debt maturity stocks has outperformed a basket of short debt maturity stocks by 7% this year and trades at more attractive valuations than their short debt maturity peers,\" Fraser Jenkins and his team added.</p><p><blockquote>Fraser Jenkins和他的团队补充道：“今年一篮子美国长期债务到期股票的表现优于一篮子短期债务到期股票7%，并且其估值比短期债务到期股票更具吸引力。”</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1aca07448aa8168cf9edc9e49d933435\" tg-width=\"1260\" tg-height=\"672\" referrerpolicy=\"no-referrer\"><span>CHART VIA BERNSTEIN RESEARCH.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图表来自伯恩斯坦研究。</span></p></blockquote></p><p> There are a lot of these stocks: the strategists at Bernstein have a list of more than 80. Some of those picks include Big Tech names Apple <a href=\"https://laohu8.com/S/AAPL\">$(AAPL)$</a>, Alphabet <a href=\"https://laohu8.com/S/GOOGL\">$(GOOGL)$</a>(GOOGL), Amazon <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>, and Microsoft <a href=\"https://laohu8.com/S/MSFT\">$(MSFT)$</a>, as well as other technology companies like videogame developer Electronic Arts <a href=\"https://laohu8.com/S/EA\">$(EA)$</a> and semiconductor groups Nvidia <a href=\"https://laohu8.com/S/NVDA\">$(NVDA)$</a>, Texas Instruments <a href=\"https://laohu8.com/S/TXN\">$(TXN)$</a>, and Qualcomm <a href=\"https://laohu8.com/S/QCOM\">$(QCOM)$</a>.</p><p><blockquote>这些股票有很多：伯恩斯坦的策略师列出了80多只股票。其中一些选择包括大型科技公司苹果<a href=\"https://laohu8.com/S/AAPL\">$(AAPL)$</a>, Alphabet<a href=\"https://laohu8.com/S/GOOGL\">$（GOOGL）$</a>（GOOGL）、亚马逊<a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>，和微软<a href=\"https://laohu8.com/S/MSFT\">$(MSFT)$</a>，以及视频游戏开发商艺电等其他科技公司<a href=\"https://laohu8.com/S/EA\">$(EA)$</a>和半导体集团英伟达<a href=\"https://laohu8.com/S/NVDA\">$(NVDA)$</a>,德州仪器<a href=\"https://laohu8.com/S/TXN\">$(TXN)$</a>，和高通<a href=\"https://laohu8.com/S/QCOM\">$(QCOM)$</a>.</blockquote></p><p> Telecom giants AT&amp;T <a href=\"https://laohu8.com/S/T\">$(T)$</a> and Verizon <a href=\"https://laohu8.com/S/VZ\">$(VZ)$</a> are also on the list, as are retailers and consumer-products groups such as Home Depot <a href=\"https://laohu8.com/S/HD\">$(HD)$</a>, Target <a href=\"https://laohu8.com/S/TGT\">$(TGT)$</a>, McDonalds <a href=\"https://laohu8.com/S/MCD\">$(MCD)$</a>, Starbucks <a href=\"https://laohu8.com/S/SBUX\">$(SBUX)$</a>, Nike <a href=\"https://laohu8.com/S/NKE\">$(NKE)$</a>, Kraft Heinz <a href=\"https://laohu8.com/S/KHC\">$(KHC)$</a>, Estée Lauder <a href=\"https://laohu8.com/S/EL\">$(EL)$</a>, and Coca-Cola <a href=\"https://laohu8.com/S/KO\">$(KO)$</a>.</p><p><blockquote>电信巨头AT&amp;T<a href=\"https://laohu8.com/S/T\">$(T)$</a>和威瑞森<a href=\"https://laohu8.com/S/VZ\">$(VZ)$</a>家得宝等零售商和消费品集团也榜上有名<a href=\"https://laohu8.com/S/HD\">$(HD)$</a>,目标<a href=\"https://laohu8.com/S/TGT\">$(TGT)$</a>,麦当劳<a href=\"https://laohu8.com/S/MCD\">$(MCD)$</a>,星巴克<a href=\"https://laohu8.com/S/SBUX\">$(SBUX)$</a>,耐克<a href=\"https://laohu8.com/S/NKE\">$(NKE)$</a>,卡夫亨氏<a href=\"https://laohu8.com/S/KHC\">$(KHC)$</a>,雅诗兰黛<a href=\"https://laohu8.com/S/EL\">$(EL)$</a>，和可口可乐<a href=\"https://laohu8.com/S/KO\">$(KO)$</a>.</blockquote></p><p> Health and biotechnology stocks like Johnson &amp; Johnson <a href=\"https://laohu8.com/S/JNJ\">$(JNJ)$</a>, Pfizer <a href=\"https://laohu8.com/S/PFE\">$(PFE)$</a>, Gilead Sciences <a href=\"https://laohu8.com/S/GILD\">$(GILD)$</a>, Regeneron <a href=\"https://laohu8.com/S/REGN\">$(REGN)$</a>, and Biogen <a href=\"https://laohu8.com/S/BIIB\">$(BIIB)$</a> also make the cut, as do railroad operators Kansas City Southern <a href=\"https://laohu8.com/S/KSU\">$(KSU)$</a> and Union Pacific <a href=\"https://laohu8.com/S/UNP\">$(UNP)$</a>. Defense companies Lockheed Martin <a href=\"https://laohu8.com/S/LMT\">$(LMT)$</a>, Northrop Grumman <a href=\"https://laohu8.com/S/NOC\">$(NOC)$</a>, and Raytheon Technologies <a href=\"https://laohu8.com/S/RTX\">$(RTX)$</a> also qualify.</p><p><blockquote>强生等健康和生物技术股票<a href=\"https://laohu8.com/S/JNJ\">$（强生）$</a>,辉瑞<a href=\"https://laohu8.com/S/PFE\">$(PFE)$</a>,吉利德科学<a href=\"https://laohu8.com/S/GILD\">$(GILD)$</a>,再生元<a href=\"https://laohu8.com/S/REGN\">$(REGN)$</a>，和百健<a href=\"https://laohu8.com/S/BIIB\">$(BIIB)$</a>铁路运营商堪萨斯城南方铁路也晋级<a href=\"https://laohu8.com/S/KSU\">$(KSU)$</a>和联合太平洋<a href=\"https://laohu8.com/S/UNP\">$(UNP)$</a>.国防公司洛克希德·马丁公司<a href=\"https://laohu8.com/S/LMT\">$(LMT)$</a>,诺斯罗普·格鲁曼公司<a href=\"https://laohu8.com/S/NOC\">$（夜间）$</a>，和雷神技术<a href=\"https://laohu8.com/S/RTX\">$(RTX)$</a>也有资格。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Looking for hedges against inflation? Try Apple, Nike, Verizon and stocks with this in common, strategists say<blockquote>寻找通胀对冲工具？策略师表示，尝试苹果、Nike、Verizon和具有此共同点的股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLooking for hedges against inflation? Try Apple, Nike, Verizon and stocks with this in common, strategists say<blockquote>寻找通胀对冲工具？策略师表示，尝试苹果、Nike、Verizon和具有此共同点的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-06-18 15:03</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Stocks are set for a poor performance on Thursday, as markets absorb the Federal Reserve's indication that interest rate increases are coming sooner than expected, while the central bank remains alert to inflation risks.</p><p><blockquote>周四股市将表现不佳，因为市场吸收了美联储加息时间快于预期的迹象，同时央行仍对通胀风险保持警惕。</blockquote></p><p> \"There is probably no bigger macro issue, both tactically and strategically, than inflation and what this means for portfolios,\" said strategists led by Inigo Fraser Jenkins at Bernstein Research on Thursday.</p><p><blockquote>伯恩斯坦研究公司Inigo Fraser Jenkins领导的策略师周四表示：“无论是战术上还是战略上，可能没有比通胀及其对投资组合的意义更大的宏观问题了。”</blockquote></p><p> Fraser Jenkins and his team have our call of the day: that investors should look to buy shares in companies with a long maturity of debt as an effective hedge against inflation.</p><p><blockquote>Fraser Jenkins和他的团队提出了我们当今的看涨期权：投资者应该购买债务期限较长的公司的股票，作为对冲通胀的有效手段。</blockquote></p><p> Companies issued debt at an astounding rate through the COVID-19 pandemic. Much of it was a necessary move to meet funding needs, but for some groups it was an opportunity to take advantage of the Fed's measures supporting credit markets, which provided an ability to increase the maturity of debt, the strategists said.</p><p><blockquote>公司通过COVID-19大流行以惊人的速度发行债务。策略师表示，这在很大程度上是满足融资需求的必要举措，但对一些群体来说，这是一个利用美联储支持信贷市场措施的机会，这些措施提供了延长债务期限的能力。</blockquote></p><p> According to the team at Bernstein, for companies that have long maturity of debt, have issued fixed-rate debt, and are going concerns -- i.e. can continue operating while meeting financial obligations -- inflation could be a positive thing. \"Inflation would erode the real value of the debt relative to earnings (which are tied to the real economy),\" the strategists said.</p><p><blockquote>伯恩斯坦的团队表示，对于债务期限较长、已发行固定利率债务且持续经营（即可以在履行财务义务的同时继续运营）的公司来说，通货膨胀可能是一件积极的事情。策略师表示：“通胀将侵蚀债务相对于收益（与实体经济挂钩）的实际价值。”</blockquote></p><p> \"There is no one solution\" to finding suitable hedges for inflation, Fraser Jenkins' group said, noting that a good response may involve more equities, real assets, gold, and even crypto assets like bitcoin . But \"another possible string to the inflation-hedging bow\" is companies that emerge from the pandemic with a long maturity of debt.</p><p><blockquote>Fraser Jenkins的团队表示，寻找合适的通胀对冲工具“没有单一的解决方案”，并指出良好的应对措施可能涉及更多股票、实物资产、黄金，甚至比特币等加密资产。但“通胀对冲弓的另一个可能的弦”是那些从疫情中走出来、债务期限较长的公司。</blockquote></p><p> \"A basket of U.S. long debt maturity stocks has outperformed a basket of short debt maturity stocks by 7% this year and trades at more attractive valuations than their short debt maturity peers,\" Fraser Jenkins and his team added.</p><p><blockquote>Fraser Jenkins和他的团队补充道：“今年一篮子美国长期债务到期股票的表现优于一篮子短期债务到期股票7%，并且其估值比短期债务到期股票更具吸引力。”</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1aca07448aa8168cf9edc9e49d933435\" tg-width=\"1260\" tg-height=\"672\" referrerpolicy=\"no-referrer\"><span>CHART VIA BERNSTEIN RESEARCH.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图表来自伯恩斯坦研究。</span></p></blockquote></p><p> There are a lot of these stocks: the strategists at Bernstein have a list of more than 80. Some of those picks include Big Tech names Apple <a href=\"https://laohu8.com/S/AAPL\">$(AAPL)$</a>, Alphabet <a href=\"https://laohu8.com/S/GOOGL\">$(GOOGL)$</a>(GOOGL), Amazon <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>, and Microsoft <a href=\"https://laohu8.com/S/MSFT\">$(MSFT)$</a>, as well as other technology companies like videogame developer Electronic Arts <a href=\"https://laohu8.com/S/EA\">$(EA)$</a> and semiconductor groups Nvidia <a href=\"https://laohu8.com/S/NVDA\">$(NVDA)$</a>, Texas Instruments <a href=\"https://laohu8.com/S/TXN\">$(TXN)$</a>, and Qualcomm <a href=\"https://laohu8.com/S/QCOM\">$(QCOM)$</a>.</p><p><blockquote>这些股票有很多：伯恩斯坦的策略师列出了80多只股票。其中一些选择包括大型科技公司苹果<a href=\"https://laohu8.com/S/AAPL\">$(AAPL)$</a>, Alphabet<a href=\"https://laohu8.com/S/GOOGL\">$（GOOGL）$</a>（GOOGL）、亚马逊<a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>，和微软<a href=\"https://laohu8.com/S/MSFT\">$(MSFT)$</a>，以及视频游戏开发商艺电等其他科技公司<a href=\"https://laohu8.com/S/EA\">$(EA)$</a>和半导体集团英伟达<a href=\"https://laohu8.com/S/NVDA\">$(NVDA)$</a>,德州仪器<a href=\"https://laohu8.com/S/TXN\">$(TXN)$</a>，和高通<a href=\"https://laohu8.com/S/QCOM\">$(QCOM)$</a>.</blockquote></p><p> Telecom giants AT&amp;T <a href=\"https://laohu8.com/S/T\">$(T)$</a> and Verizon <a href=\"https://laohu8.com/S/VZ\">$(VZ)$</a> are also on the list, as are retailers and consumer-products groups such as Home Depot <a href=\"https://laohu8.com/S/HD\">$(HD)$</a>, Target <a href=\"https://laohu8.com/S/TGT\">$(TGT)$</a>, McDonalds <a href=\"https://laohu8.com/S/MCD\">$(MCD)$</a>, Starbucks <a href=\"https://laohu8.com/S/SBUX\">$(SBUX)$</a>, Nike <a href=\"https://laohu8.com/S/NKE\">$(NKE)$</a>, Kraft Heinz <a href=\"https://laohu8.com/S/KHC\">$(KHC)$</a>, Estée Lauder <a href=\"https://laohu8.com/S/EL\">$(EL)$</a>, and Coca-Cola <a href=\"https://laohu8.com/S/KO\">$(KO)$</a>.</p><p><blockquote>电信巨头AT&amp;T<a href=\"https://laohu8.com/S/T\">$(T)$</a>和威瑞森<a href=\"https://laohu8.com/S/VZ\">$(VZ)$</a>家得宝等零售商和消费品集团也榜上有名<a href=\"https://laohu8.com/S/HD\">$(HD)$</a>,目标<a href=\"https://laohu8.com/S/TGT\">$(TGT)$</a>,麦当劳<a href=\"https://laohu8.com/S/MCD\">$(MCD)$</a>,星巴克<a href=\"https://laohu8.com/S/SBUX\">$(SBUX)$</a>,耐克<a href=\"https://laohu8.com/S/NKE\">$(NKE)$</a>,卡夫亨氏<a href=\"https://laohu8.com/S/KHC\">$(KHC)$</a>,雅诗兰黛<a href=\"https://laohu8.com/S/EL\">$(EL)$</a>，和可口可乐<a href=\"https://laohu8.com/S/KO\">$(KO)$</a>.</blockquote></p><p> Health and biotechnology stocks like Johnson &amp; Johnson <a href=\"https://laohu8.com/S/JNJ\">$(JNJ)$</a>, Pfizer <a href=\"https://laohu8.com/S/PFE\">$(PFE)$</a>, Gilead Sciences <a href=\"https://laohu8.com/S/GILD\">$(GILD)$</a>, Regeneron <a href=\"https://laohu8.com/S/REGN\">$(REGN)$</a>, and Biogen <a href=\"https://laohu8.com/S/BIIB\">$(BIIB)$</a> also make the cut, as do railroad operators Kansas City Southern <a href=\"https://laohu8.com/S/KSU\">$(KSU)$</a> and Union Pacific <a href=\"https://laohu8.com/S/UNP\">$(UNP)$</a>. Defense companies Lockheed Martin <a href=\"https://laohu8.com/S/LMT\">$(LMT)$</a>, Northrop Grumman <a href=\"https://laohu8.com/S/NOC\">$(NOC)$</a>, and Raytheon Technologies <a href=\"https://laohu8.com/S/RTX\">$(RTX)$</a> also qualify.</p><p><blockquote>强生等健康和生物技术股票<a href=\"https://laohu8.com/S/JNJ\">$（强生）$</a>,辉瑞<a href=\"https://laohu8.com/S/PFE\">$(PFE)$</a>,吉利德科学<a href=\"https://laohu8.com/S/GILD\">$(GILD)$</a>,再生元<a href=\"https://laohu8.com/S/REGN\">$(REGN)$</a>，和百健<a href=\"https://laohu8.com/S/BIIB\">$(BIIB)$</a>铁路运营商堪萨斯城南方铁路也晋级<a href=\"https://laohu8.com/S/KSU\">$(KSU)$</a>和联合太平洋<a href=\"https://laohu8.com/S/UNP\">$(UNP)$</a>.国防公司洛克希德·马丁公司<a href=\"https://laohu8.com/S/LMT\">$(LMT)$</a>,诺斯罗普·格鲁曼公司<a href=\"https://laohu8.com/S/NOC\">$（夜间）$</a>，和雷神技术<a href=\"https://laohu8.com/S/RTX\">$(RTX)$</a>也有资格。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/looking-for-hedges-against-inflation-try-apple-nike-verizon-and-stocks-with-this-in-common-strategists-say-11623928849?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"EL":"雅诗兰黛","HD":"家得宝","MSFT":"微软","LMT":"洛克希德马丁","KSU":"堪萨斯南方铁路","JNJ":"强生","KHC":"卡夫亨氏","AMZN":"亚马逊","REGN":"再生元制药公司","QCOM":"高通","PFE":"辉瑞","GILD":"吉利德科学","AAPL":"苹果","NVDA":"英伟达","TGT":"塔吉特","GOOG":"谷歌","TXN":"德州仪器","NKE":"耐克","MCD":"麦当劳","EA":"艺电","KO":"可口可乐","VZ":"Verizon Comms","UNP":"联合太平洋","SBUX":"星巴克","RTX":"雷神技术公司","GOOGL":"谷歌A","NOC":"诺斯罗普格鲁曼"},"source_url":"https://www.marketwatch.com/story/looking-for-hedges-against-inflation-try-apple-nike-verizon-and-stocks-with-this-in-common-strategists-say-11623928849?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2144745081","content_text":"Stocks are set for a poor performance on Thursday, as markets absorb the Federal Reserve's indication that interest rate increases are coming sooner than expected, while the central bank remains alert to inflation risks.\n\"There is probably no bigger macro issue, both tactically and strategically, than inflation and what this means for portfolios,\" said strategists led by Inigo Fraser Jenkins at Bernstein Research on Thursday.\nFraser Jenkins and his team have our call of the day: that investors should look to buy shares in companies with a long maturity of debt as an effective hedge against inflation.\nCompanies issued debt at an astounding rate through the COVID-19 pandemic. Much of it was a necessary move to meet funding needs, but for some groups it was an opportunity to take advantage of the Fed's measures supporting credit markets, which provided an ability to increase the maturity of debt, the strategists said.\nAccording to the team at Bernstein, for companies that have long maturity of debt, have issued fixed-rate debt, and are going concerns -- i.e. can continue operating while meeting financial obligations -- inflation could be a positive thing. \"Inflation would erode the real value of the debt relative to earnings (which are tied to the real economy),\" the strategists said.\n\"There is no one solution\" to finding suitable hedges for inflation, Fraser Jenkins' group said, noting that a good response may involve more equities, real assets, gold, and even crypto assets like bitcoin . But \"another possible string to the inflation-hedging bow\" is companies that emerge from the pandemic with a long maturity of debt.\n\"A basket of U.S. long debt maturity stocks has outperformed a basket of short debt maturity stocks by 7% this year and trades at more attractive valuations than their short debt maturity peers,\" Fraser Jenkins and his team added.\nCHART VIA BERNSTEIN RESEARCH.\nThere are a lot of these stocks: the strategists at Bernstein have a list of more than 80. Some of those picks include Big Tech names Apple $(AAPL)$, Alphabet $(GOOGL)$(GOOGL), Amazon $(AMZN)$, and Microsoft $(MSFT)$, as well as other technology companies like videogame developer Electronic Arts $(EA)$ and semiconductor groups Nvidia $(NVDA)$, Texas Instruments $(TXN)$, and Qualcomm $(QCOM)$.\nTelecom giants AT&T $(T)$ and Verizon $(VZ)$ are also on the list, as are retailers and consumer-products groups such as Home Depot $(HD)$, Target $(TGT)$, McDonalds $(MCD)$, Starbucks $(SBUX)$, Nike $(NKE)$, Kraft Heinz $(KHC)$, Estée Lauder $(EL)$, and Coca-Cola $(KO)$.\nHealth and biotechnology stocks like Johnson & Johnson $(JNJ)$, Pfizer $(PFE)$, Gilead Sciences $(GILD)$, Regeneron $(REGN)$, and Biogen $(BIIB)$ also make the cut, as do railroad operators Kansas City Southern $(KSU)$ and Union Pacific $(UNP)$. Defense companies Lockheed Martin $(LMT)$, Northrop Grumman $(NOC)$, and Raytheon Technologies $(RTX)$ also qualify.","news_type":1,"symbols_score_info":{"NKE":0.9,"KSU":0.9,"AAPL":0.9,"JNJ":0.9,"PFE":0.9,"NVDA":0.9,"VZA":0.9,"TXN":0.9,"KO":0.9,"LMT":0.9,"QCOM":0.9,"AMZN":0.9,"HD":0.9,"RTX":0.9,"VZ":0.9,"NOC":0.9,"GOOG":0.9,"EL":0.9,"EA":0.9,"UNP":0.9,"MCD":0.9,"GILD":0.9,"MSFT":0.9,"KHC":0.9,"SBUX":0.9,"TGT":0.9,"REGN":0.9,"GOOGL":0.9}},"isVote":1,"tweetType":1,"viewCount":1700,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":102628560,"gmtCreate":1620209221550,"gmtModify":1634206980416,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563007583951606","idStr":"3563007583951606"},"themes":[],"htmlText":"wow.&nbsp;","listText":"wow.&nbsp;","text":"wow.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/102628560","repostId":"1183452524","repostType":4,"repost":{"id":"1183452524","kind":"news","pubTimestamp":1620208631,"share":"https://www.laohu8.com/m/news/1183452524?lang=zh_CN&edition=full","pubTime":"2021-05-05 17:57","market":"us","language":"en","title":"Bill And Melinda Gates' Divorce News A Bull Case For GameStop? What You Need To Know<blockquote>比尔·盖茨和梅琳达·盖茨的离婚消息是游戏驿站的牛市吗？你需要知道什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1183452524","media":"benzinga","summary":"A post by a member of the Reddit investor forum r/GME in March that speculated billionaires were inc","content":"<p><div> A post by a member of the Reddit investor forum r/GME in March that speculated billionaires were increasing their short positions inGameStop Corp. (NYSE:GME) ahead of their impending divorces is now ...</p><p><blockquote><div>Reddit投资者论坛r/GME的一名成员在3月份发布了一篇帖子，推测亿万富翁在即将离婚之前正在增加他们在GameStop Corp.（纽约证券交易所代码：GME）的空头头寸...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/trading-ideas/long-ideas/21/05/20955715/bill-and-melinda-gates-divorce-news-a-bull-case-for-gamestop-what-you-need-to-know\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/trading-ideas/long-ideas/21/05/20955715/bill-and-melinda-gates-divorce-news-a-bull-case-for-gamestop-what-you-need-to-know\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bill And Melinda Gates' Divorce News A Bull Case For GameStop? What You Need To Know<blockquote>比尔·盖茨和梅琳达·盖茨的离婚消息是游戏驿站的牛市吗？你需要知道什么</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBill And Melinda Gates' Divorce News A Bull Case For GameStop? What You Need To Know<blockquote>比尔·盖茨和梅琳达·盖茨的离婚消息是游戏驿站的牛市吗？你需要知道什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">benzinga</strong><span class=\"h-time small\">2021-05-05 17:57</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> A post by a member of the Reddit investor forum r/GME in March that speculated billionaires were increasing their short positions inGameStop Corp. (NYSE:GME) ahead of their impending divorces is now ...</p><p><blockquote><div>Reddit投资者论坛r/GME的一名成员在3月份发布了一篇帖子，推测亿万富翁在即将离婚之前正在增加他们在GameStop Corp.（纽约证券交易所代码：GME）的空头头寸...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/trading-ideas/long-ideas/21/05/20955715/bill-and-melinda-gates-divorce-news-a-bull-case-for-gamestop-what-you-need-to-know\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/trading-ideas/long-ideas/21/05/20955715/bill-and-melinda-gates-divorce-news-a-bull-case-for-gamestop-what-you-need-to-know\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/trading-ideas/long-ideas/21/05/20955715/bill-and-melinda-gates-divorce-news-a-bull-case-for-gamestop-what-you-need-to-know\">benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.benzinga.com/trading-ideas/long-ideas/21/05/20955715/bill-and-melinda-gates-divorce-news-a-bull-case-for-gamestop-what-you-need-to-know","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1183452524","content_text":"A post by a member of the Reddit investor forum r/GME in March that speculated billionaires were increasing their short positions inGameStop Corp. (NYSE:GME) ahead of their impending divorces is now seen as a bull case for the videogame retailer’s value.\nWhat Happened:Following theannouncement of the divorce ofMicrosoft Corporation(MSFT) co-founder Bill Gates and his wife Melinda Gates on Monday, members of the Reddit board r/GMEdiscovereda nearly two-month-old post by user Jobom3 that linked a spike in borrowed GameStop shares to the possibility of billionaires preparing for their divorces, as first observed by MarketWatch.\nA Reddit post on March 11 noted that more than one million GameStop shares were borrowed from exchange-traded funds (ETFs) in the pre-market. The move was seen as a new confrontation in the ongoing battle between hedge funds trying to short GameStop and investors who wanted to prove the company is fundamentally undervalued.\nIn reply, Jobom3 said, “I think they are just buying time to secure their personal assets. Moving them to offshore or divorce their wives and put the money in their name. Tricks like that.”\nMembers of the Reddit board credited Jobom3 with predicting the Gates’ divorce and noted that the divorce supported their speculation that some wealthy short sellers of GameStop are fighting the short squeeze in a bid to protect their assets from the possibility of a market implosion.\nWhy It Matters:Creating a company like Microsoft helped Bill Gates build great wealth along the way. Gates left Microsoft in 2008 to concentrate on his philanthropic endeavors.\nIn 2000, Gates and Melinda began the Bill & Melinda Gates Foundation, which is the world's largest private charitable foundation with a trust endowment of $49.8 billion.\nThe latestregulatory filingby the foundation disclosed ownership stakes, as of December 31, 2020, inAmyris(NASDAQ:AMRS),Atreca(NASDAQ:BCEL),BioNTech SE(NASDAQ:BNTX),CurevacN.V.(NASDAQ:CVAC) andVir Biotechnology Inc.(NASDAQ:VIR). However, the filing does not show any holding in GameStop shares.\nPrice Action:GameStop shares closed 0.9% lower in Tuesday’s regular trading session at $160.73, but added 0.7% in the after-hours session to $161.89.","news_type":1,"symbols_score_info":{"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":526,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108846973,"gmtCreate":1620013905692,"gmtModify":1634208515429,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563007583951606","idStr":"3563007583951606"},"themes":[],"htmlText":"Yea sure","listText":"Yea sure","text":"Yea sure","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/108846973","repostId":"1135819410","repostType":4,"repost":{"id":"1135819410","kind":"news","pubTimestamp":1619999342,"share":"https://www.laohu8.com/m/news/1135819410?lang=zh_CN&edition=full","pubTime":"2021-05-03 07:49","market":"us","language":"en","title":"Uber, Pfizer, PayPal, T-Mobile, ViacomCBS, General Motors, and Other Stocks for Investors to Watch This Week<blockquote>Uber、辉瑞、PayPal、T-Mobile、ViacomCBS、General Motors等本周值得投资者关注的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1135819410","media":"Barrons","summary":"It’s another packed week of earnings reports, with 130 S&P 500 companies on deck to release their fi","content":"<p>It’s another packed week of earnings reports, with 130 S&amp;P 500 companies on deck to release their first-quarter results. Estée Lauder is among Monday’s highlights, before things pick up on Tuesday:&nbsp;Activision Blizzard, CVS Health, DuPont, Pfizer, and T-Mobile US all report.</p><p><blockquote>又是财报密集的一周，130家标普500公司即将发布第一季度业绩。雅诗兰黛是周一的亮点之一，周二情况有所好转：动视暴雪、CVS Health、杜邦、辉瑞和T-Mobile US均报告。</blockquote></p><p>On Wednesday,&nbsp;Barrick Gold, Booking Holdings, General Motors, PayPal Holdings, and Uber Technologies release earnings.&nbsp;Anheuser-Busch InBev, Moderna, Regeneron Pharmaceuticals, Square, and ViacomCBS go on Thursday. And finally, Cigna closes the week on&nbsp;Friday.</p><p><blockquote>周三，Barrick Gold、Booking Holdings、General Motors、PayPal控股和Uber Technologies将发布财报。百威英博、Moderna、再生元制药、Square和ViacomCBS将于周四发布。最后，Cigna将于周五结束这一周。</blockquote></p><p><img src=\"https://static.tigerbbs.com/e1a866fbe5118566e68842053d76e2b9\" tg-width=\"1382\" tg-height=\"750\"></p><p><blockquote></blockquote></p><p>On the economic calendar this week, the&nbsp;main event will jobs Friday.&nbsp;The Bureau of Labor Statistics is forecast to report a gain of 975,000 nonfarm payrolls in April, and an unemployment rate of 5.8%—down from 6% a month earlier.</p><p><blockquote>在本周的经济日历上，主要事件将是周五的就业。美国劳工统计局预计将报告4月份非农就业人数增加97.5万人，失业率为5.8%，低于一个月前的6%。</blockquote></p><p>Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for April on Monday and its&nbsp;Services equivalent on Wednesday.</p><p><blockquote>本周公布的其他数据包括供应管理协会周一公布的4月份制造业采购经理人指数和周三公布的服务业采购经理人指数。</blockquote></p><p>Enterprise Products Partners&nbsp;and Estée Lauder release earnings.</p><p><blockquote>企业产品合作伙伴和雅诗兰黛发布收益。</blockquote></p><p>Merck and&nbsp;Public Storage&nbsp;hold virtual investor days.</p><p><blockquote>默克和Public Storage举办虚拟投资者日。</blockquote></p><p><b>The Census Bureau</b>&nbsp;reports construction-spending data for March. Consensus estimate is for a 0.6% month-over-month increase in construction spending to a seasonally adjusted annual rate of $1.53 trillion.</p><p><blockquote><b>人口普查局</b>报告三月份建筑支出数据。市场普遍预计建筑支出环比增长0.6%，经季节调整后的年率为1.53万亿美元。</blockquote></p><p><b>The Institute for Supply</b>&nbsp;Management releases its Manufacturing Purchasing Managers’ Index for April. Economists forecast a 65 reading, roughly even with the March figure. The March reading was the highest for the index since December 1983.</p><p><blockquote><b>供应研究所</b>管理层发布四月份制造业采购经理人指数。经济学家预测为65，与3月份的数据大致持平。3月份的读数是该指数自1983年12月以来的最高值。</blockquote></p><p><b>Tuesday 5/4</b></p><p><blockquote><b>星期二5/4</b></blockquote></p><p>Activision Blizzard,ConocoPhillips, Cummins, CVS Health,Dominion Energy,DuPont, Eaton, Pfizer,Sysco,and T-Mobile US report quarterly results.</p><p><blockquote>动视暴雪、康菲石油公司、康明斯、CVS Health、Dominion Energy、杜邦、伊顿、辉瑞、Sysco和T-Mobile US报告季度业绩。</blockquote></p><p>Eli Lilly&nbsp;holds a conference call to discuss its sustainability initiatives.</p><p><blockquote>礼来公司召开电话会议讨论其可持续发展计划。</blockquote></p><p>Union Pacific&nbsp;holds its 2021 virtual investor day.</p><p><blockquote>联合太平洋公司举办2021年虚拟投资者日。</blockquote></p><p><b>Wednesday 5/5</b></p><p><blockquote><b>星期三5/5</b></blockquote></p><p>Barrick Gold, Booking Holdings,BorgWarner,Emerson Electric,General Motors,Hilton Worldwide Holdings,Novo Nordisk,PayPal Holdings, and Uber Technologies release earnings.</p><p><blockquote>Barrick Gold、Booking Holdings、BorgWarner、Emerson Electric、General Motors、Hilton Worldwide Holdings、Novo Nordisk、PayPal控股和Uber Technologies发布财报。</blockquote></p><p><b>ADP releases</b>&nbsp;its National Employment Report for April. Expectations are for a gain of 762,500 jobs in private-sector employment after a 517,000 increase in March.</p><p><blockquote><b>ADP释放</b>四月份全国就业报告。继3月份增加517,000个工作岗位后，预计私营部门就业岗位将增加762,500个。</blockquote></p><p><b>ISM releases</b>&nbsp;its Services PMI for April. The consensus call is for a 64.6 reading, a tick higher than the March data. The March reading was an all-time high for the index.</p><p><blockquote><b>ISM版本</b>4月份服务业PMI。普遍的看涨期权为64.6，比3月份的数据高出一个百分点。3月份的读数是该指数的历史新高。</blockquote></p><p><b>Thursday 5/6</b></p><p><blockquote><b>星期四5/6</b></blockquote></p><p>Anheuser-Busch InBev,Becton Dickinson,Expedia Group,Fidelity National Information Services,Kellogg, Linde,MetLife,Moderna, Regeneron Pharmaceuticals, Square, ViacomCBS, and&nbsp;Zoetishold conference calls to discuss quarterly results.</p><p><blockquote>百威英博、Becton Dickinson、Expedia Group、富达国家信息服务公司、家乐氏、林德、大都会人寿、Moderna、再生元制药、Square、ViacomCBS和Zoetishold在评级召开会议讨论季度业绩。</blockquote></p><p><b>The Department of Labor</b>&nbsp;reports initial jobless claims for the week ending on May 1. Initial jobless claims have averaged 611,750 a week in April and are at their lowest level since March of last year.</p><p><blockquote><b>劳工部</b>报告截至5月1日当周首次申请失业救济人数。4月份平均每周初请失业金人数为611,750人，处于去年3月以来的最低水平。</blockquote></p><p><b>The Bureau of Labor</b>&nbsp;Statistics reports labor costs and productivity for the first quarter. Expectations are for a seasonally adjusted annual rate of 2.2% productivity growth, compared with a 4.2% decline in the fourth quarter of 2020. Unit labor costs are seen falling 0.4% after rising 6% previously.</p><p><blockquote><b>劳工局</b>统计数据报告了第一季度的劳动力成本和生产率。预计经季节调整后的生产率年增长率为2.2%，而2020年第四季度为下降4.2%。单位劳动力成本在此前上涨6%后预计将下降0.4%。</blockquote></p><p><b>Friday 5/7</b></p><p><blockquote><b>星期五5/7</b></blockquote></p><p><b>The Bureau of Labor</b>&nbsp;Statistics releases the jobs report for April. Economists forecast a gain of 975,000 in nonfarm payroll employment. The unemployment rate is expected to edge down to 5.8% from 6%.</p><p><blockquote><b>劳工局</b>统计局发布四月份就业报告。经济学家预测非农就业人数将增加975,000人。失业率预计将从6%小幅降至5.8%。</blockquote></p><p>Cigna and&nbsp;<b>Liberty Media</b>&nbsp;report earnings.</p><p><blockquote>信诺和<b>自由媒体</b>报告收益。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Uber, Pfizer, PayPal, T-Mobile, ViacomCBS, General Motors, and Other Stocks for Investors to Watch This Week<blockquote>Uber、辉瑞、PayPal、T-Mobile、ViacomCBS、General Motors等本周值得投资者关注的股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUber, Pfizer, PayPal, T-Mobile, ViacomCBS, General Motors, and Other Stocks for Investors to Watch This Week<blockquote>Uber、辉瑞、PayPal、T-Mobile、ViacomCBS、General Motors等本周值得投资者关注的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-05-03 07:49</span>\n</p>\n</h4>\n</header>\n<article>\n<p>It’s another packed week of earnings reports, with 130 S&amp;P 500 companies on deck to release their first-quarter results. Estée Lauder is among Monday’s highlights, before things pick up on Tuesday:&nbsp;Activision Blizzard, CVS Health, DuPont, Pfizer, and T-Mobile US all report.</p><p><blockquote>又是财报密集的一周，130家标普500公司即将发布第一季度业绩。雅诗兰黛是周一的亮点之一，周二情况有所好转：动视暴雪、CVS Health、杜邦、辉瑞和T-Mobile US均报告。</blockquote></p><p>On Wednesday,&nbsp;Barrick Gold, Booking Holdings, General Motors, PayPal Holdings, and Uber Technologies release earnings.&nbsp;Anheuser-Busch InBev, Moderna, Regeneron Pharmaceuticals, Square, and ViacomCBS go on Thursday. And finally, Cigna closes the week on&nbsp;Friday.</p><p><blockquote>周三，Barrick Gold、Booking Holdings、General Motors、PayPal控股和Uber Technologies将发布财报。百威英博、Moderna、再生元制药、Square和ViacomCBS将于周四发布。最后，Cigna将于周五结束这一周。</blockquote></p><p><img src=\"https://static.tigerbbs.com/e1a866fbe5118566e68842053d76e2b9\" tg-width=\"1382\" tg-height=\"750\"></p><p><blockquote></blockquote></p><p>On the economic calendar this week, the&nbsp;main event will jobs Friday.&nbsp;The Bureau of Labor Statistics is forecast to report a gain of 975,000 nonfarm payrolls in April, and an unemployment rate of 5.8%—down from 6% a month earlier.</p><p><blockquote>在本周的经济日历上，主要事件将是周五的就业。美国劳工统计局预计将报告4月份非农就业人数增加97.5万人，失业率为5.8%，低于一个月前的6%。</blockquote></p><p>Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for April on Monday and its&nbsp;Services equivalent on Wednesday.</p><p><blockquote>本周公布的其他数据包括供应管理协会周一公布的4月份制造业采购经理人指数和周三公布的服务业采购经理人指数。</blockquote></p><p>Enterprise Products Partners&nbsp;and Estée Lauder release earnings.</p><p><blockquote>企业产品合作伙伴和雅诗兰黛发布收益。</blockquote></p><p>Merck and&nbsp;Public Storage&nbsp;hold virtual investor days.</p><p><blockquote>默克和Public Storage举办虚拟投资者日。</blockquote></p><p><b>The Census Bureau</b>&nbsp;reports construction-spending data for March. Consensus estimate is for a 0.6% month-over-month increase in construction spending to a seasonally adjusted annual rate of $1.53 trillion.</p><p><blockquote><b>人口普查局</b>报告三月份建筑支出数据。市场普遍预计建筑支出环比增长0.6%，经季节调整后的年率为1.53万亿美元。</blockquote></p><p><b>The Institute for Supply</b>&nbsp;Management releases its Manufacturing Purchasing Managers’ Index for April. Economists forecast a 65 reading, roughly even with the March figure. The March reading was the highest for the index since December 1983.</p><p><blockquote><b>供应研究所</b>管理层发布四月份制造业采购经理人指数。经济学家预测为65，与3月份的数据大致持平。3月份的读数是该指数自1983年12月以来的最高值。</blockquote></p><p><b>Tuesday 5/4</b></p><p><blockquote><b>星期二5/4</b></blockquote></p><p>Activision Blizzard,ConocoPhillips, Cummins, CVS Health,Dominion Energy,DuPont, Eaton, Pfizer,Sysco,and T-Mobile US report quarterly results.</p><p><blockquote>动视暴雪、康菲石油公司、康明斯、CVS Health、Dominion Energy、杜邦、伊顿、辉瑞、Sysco和T-Mobile US报告季度业绩。</blockquote></p><p>Eli Lilly&nbsp;holds a conference call to discuss its sustainability initiatives.</p><p><blockquote>礼来公司召开电话会议讨论其可持续发展计划。</blockquote></p><p>Union Pacific&nbsp;holds its 2021 virtual investor day.</p><p><blockquote>联合太平洋公司举办2021年虚拟投资者日。</blockquote></p><p><b>Wednesday 5/5</b></p><p><blockquote><b>星期三5/5</b></blockquote></p><p>Barrick Gold, Booking Holdings,BorgWarner,Emerson Electric,General Motors,Hilton Worldwide Holdings,Novo Nordisk,PayPal Holdings, and Uber Technologies release earnings.</p><p><blockquote>Barrick Gold、Booking Holdings、BorgWarner、Emerson Electric、General Motors、Hilton Worldwide Holdings、Novo Nordisk、PayPal控股和Uber Technologies发布财报。</blockquote></p><p><b>ADP releases</b>&nbsp;its National Employment Report for April. Expectations are for a gain of 762,500 jobs in private-sector employment after a 517,000 increase in March.</p><p><blockquote><b>ADP释放</b>四月份全国就业报告。继3月份增加517,000个工作岗位后，预计私营部门就业岗位将增加762,500个。</blockquote></p><p><b>ISM releases</b>&nbsp;its Services PMI for April. The consensus call is for a 64.6 reading, a tick higher than the March data. The March reading was an all-time high for the index.</p><p><blockquote><b>ISM版本</b>4月份服务业PMI。普遍的看涨期权为64.6，比3月份的数据高出一个百分点。3月份的读数是该指数的历史新高。</blockquote></p><p><b>Thursday 5/6</b></p><p><blockquote><b>星期四5/6</b></blockquote></p><p>Anheuser-Busch InBev,Becton Dickinson,Expedia Group,Fidelity National Information Services,Kellogg, Linde,MetLife,Moderna, Regeneron Pharmaceuticals, Square, ViacomCBS, and&nbsp;Zoetishold conference calls to discuss quarterly results.</p><p><blockquote>百威英博、Becton Dickinson、Expedia Group、富达国家信息服务公司、家乐氏、林德、大都会人寿、Moderna、再生元制药、Square、ViacomCBS和Zoetishold在评级召开会议讨论季度业绩。</blockquote></p><p><b>The Department of Labor</b>&nbsp;reports initial jobless claims for the week ending on May 1. Initial jobless claims have averaged 611,750 a week in April and are at their lowest level since March of last year.</p><p><blockquote><b>劳工部</b>报告截至5月1日当周首次申请失业救济人数。4月份平均每周初请失业金人数为611,750人，处于去年3月以来的最低水平。</blockquote></p><p><b>The Bureau of Labor</b>&nbsp;Statistics reports labor costs and productivity for the first quarter. Expectations are for a seasonally adjusted annual rate of 2.2% productivity growth, compared with a 4.2% decline in the fourth quarter of 2020. Unit labor costs are seen falling 0.4% after rising 6% previously.</p><p><blockquote><b>劳工局</b>统计数据报告了第一季度的劳动力成本和生产率。预计经季节调整后的生产率年增长率为2.2%，而2020年第四季度为下降4.2%。单位劳动力成本在此前上涨6%后预计将下降0.4%。</blockquote></p><p><b>Friday 5/7</b></p><p><blockquote><b>星期五5/7</b></blockquote></p><p><b>The Bureau of Labor</b>&nbsp;Statistics releases the jobs report for April. Economists forecast a gain of 975,000 in nonfarm payroll employment. The unemployment rate is expected to edge down to 5.8% from 6%.</p><p><blockquote><b>劳工局</b>统计局发布四月份就业报告。经济学家预测非农就业人数将增加975,000人。失业率预计将从6%小幅降至5.8%。</blockquote></p><p>Cigna and&nbsp;<b>Liberty Media</b>&nbsp;report earnings.</p><p><blockquote>信诺和<b>自由媒体</b>报告收益。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/uber-pfizer-paypal-t-mobile-viacomcbs-general-motors-and-other-stocks-for-investors-to-watch-this-week-51619982000?mod=hp_LEADSUPP_2\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TMUS":"T-Mobile US Inc",".IXIC":"NASDAQ Composite","GM":"通用汽车",".DJI":"道琼斯","UBER":"优步",".SPX":"S&P 500 Index","PYPL":"PayPal","PFE":"辉瑞"},"source_url":"https://www.barrons.com/articles/uber-pfizer-paypal-t-mobile-viacomcbs-general-motors-and-other-stocks-for-investors-to-watch-this-week-51619982000?mod=hp_LEADSUPP_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135819410","content_text":"It’s another packed week of earnings reports, with 130 S&P 500 companies on deck to release their first-quarter results. Estée Lauder is among Monday’s highlights, before things pick up on Tuesday: Activision Blizzard, CVS Health, DuPont, Pfizer, and T-Mobile US all report.On Wednesday, Barrick Gold, Booking Holdings, General Motors, PayPal Holdings, and Uber Technologies release earnings. Anheuser-Busch InBev, Moderna, Regeneron Pharmaceuticals, Square, and ViacomCBS go on Thursday. And finally, Cigna closes the week on Friday.On the economic calendar this week, the main event will jobs Friday. The Bureau of Labor Statistics is forecast to report a gain of 975,000 nonfarm payrolls in April, and an unemployment rate of 5.8%—down from 6% a month earlier.Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for April on Monday and its Services equivalent on Wednesday.Enterprise Products Partners and Estée Lauder release earnings.Merck and Public Storage hold virtual investor days.The Census Bureau reports construction-spending data for March. Consensus estimate is for a 0.6% month-over-month increase in construction spending to a seasonally adjusted annual rate of $1.53 trillion.The Institute for Supply Management releases its Manufacturing Purchasing Managers’ Index for April. Economists forecast a 65 reading, roughly even with the March figure. The March reading was the highest for the index since December 1983.Tuesday 5/4Activision Blizzard,ConocoPhillips, Cummins, CVS Health,Dominion Energy,DuPont, Eaton, Pfizer,Sysco,and T-Mobile US report quarterly results.Eli Lilly holds a conference call to discuss its sustainability initiatives.Union Pacific holds its 2021 virtual investor day.Wednesday 5/5Barrick Gold, Booking Holdings,BorgWarner,Emerson Electric,General Motors,Hilton Worldwide Holdings,Novo Nordisk,PayPal Holdings, and Uber Technologies release earnings.ADP releases its National Employment Report for April. Expectations are for a gain of 762,500 jobs in private-sector employment after a 517,000 increase in March.ISM releases its Services PMI for April. The consensus call is for a 64.6 reading, a tick higher than the March data. The March reading was an all-time high for the index.Thursday 5/6Anheuser-Busch InBev,Becton Dickinson,Expedia Group,Fidelity National Information Services,Kellogg, Linde,MetLife,Moderna, Regeneron Pharmaceuticals, Square, ViacomCBS, and Zoetishold conference calls to discuss quarterly results.The Department of Labor reports initial jobless claims for the week ending on May 1. Initial jobless claims have averaged 611,750 a week in April and are at their lowest level since March of last year.The Bureau of Labor Statistics reports labor costs and productivity for the first quarter. Expectations are for a seasonally adjusted annual rate of 2.2% productivity growth, compared with a 4.2% decline in the fourth quarter of 2020. Unit labor costs are seen falling 0.4% after rising 6% previously.Friday 5/7The Bureau of Labor Statistics releases the jobs report for April. Economists forecast a gain of 975,000 in nonfarm payroll employment. The unemployment rate is expected to edge down to 5.8% from 6%.Cigna and Liberty Media report earnings.","news_type":1,"symbols_score_info":{"UBER":0.9,"PFE":0.9,".DJI":0.9,"GM":0.9,"TMUS":0.9,".IXIC":0.9,".SPX":0.9,"VIACP":0.9,"PYPL":0.9}},"isVote":1,"tweetType":1,"viewCount":511,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":344743827,"gmtCreate":1618445916769,"gmtModify":1634292919591,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563007583951606","idStr":"3563007583951606"},"themes":[],"htmlText":"The magic number&nbsp;780","listText":"The magic number&nbsp;780","text":"The magic number 780","images":[{"img":"https://static.tigerbbs.com/9bac948ef3a4763268a338381083a43c","width":"550","height":"901"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/344743827","isVote":1,"tweetType":1,"viewCount":505,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":191434035,"gmtCreate":1620897361027,"gmtModify":1631887046498,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563007583951606","idStr":"3563007583951606"},"themes":[],"htmlText":"Alocoholics be like ROKU GIN!!","listText":"Alocoholics be like ROKU GIN!!","text":"Alocoholics be like ROKU GIN!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/191434035","repostId":"1115369155","repostType":4,"isVote":1,"tweetType":1,"viewCount":322,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":109271479,"gmtCreate":1619703112491,"gmtModify":1634210595238,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563007583951606","idStr":"3563007583951606"},"themes":[],"htmlText":"finally?&nbsp;","listText":"finally?&nbsp;","text":"finally?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/109271479","repostId":"1151446363","repostType":4,"isVote":1,"tweetType":1,"viewCount":608,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":378729301,"gmtCreate":1619062998603,"gmtModify":1634288824700,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563007583951606","idStr":"3563007583951606"},"themes":[],"htmlText":"Wouldn’t consider it a misstep. But rather “just amatter of time” some competition arrives","listText":"Wouldn’t consider it a misstep. But rather “just amatter of time” some competition arrives","text":"Wouldn’t consider it a misstep. But rather “just amatter of time” some competition arrives","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/378729301","repostId":"1122748494","repostType":2,"isVote":1,"tweetType":1,"viewCount":390,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":153637612,"gmtCreate":1625020828136,"gmtModify":1631894050984,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563007583951606","idStr":"3563007583951606"},"themes":[],"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/153637612","repostId":"1160246970","repostType":4,"repost":{"id":"1160246970","kind":"news","pubTimestamp":1625016621,"share":"https://www.laohu8.com/m/news/1160246970?lang=zh_CN&edition=full","pubTime":"2021-06-30 09:30","market":"us","language":"en","title":"The Lost Decade: Lessons From Japan's Real Estate Crisis<blockquote>失去的十年：日本房地产危机的教训</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1160246970","media":"investopedia","summary":"What Was Japan's \"Lost Decade\" Real Estate Crisis?\nFree markets economies are subject tocycles.Econo","content":"<p><b>What Was Japan's \"Lost Decade\" Real Estate Crisis?</b></p><p><blockquote><b>日本“失去的十年”房地产危机是什么？</b></blockquote></p><p> Free markets economies are subject tocycles.Economic cyclesconsist of fluctuating periods of economic expansion andcontractionas measured by a nation'sgross domestic product(GDP).</p><p><blockquote>自由市场经济受到周期的影响。经济周期由以一个国家的国内生产总值（GDP）衡量的经济扩张和收缩的波动时期组成。</blockquote></p><p> The length of economic cycles (periods of expansion vs. contraction) can vary greatly. The traditional measure of an economicrecessionis two or more consecutive quarters of falling gross domestic product. There are also economic depressions, which are extended periods of economic contraction such as theGreat Depressionof the 1930s.</p><p><blockquote>经济周期的长度（扩张期与收缩期）可能会有很大差异。经济衰退的传统衡量标准是国内生产总值连续两个或两个以上季度下降。还有经济萧条，即长期的经济收缩，例如20世纪30年代的大萧条。</blockquote></p><p> From 1991 through 2001, Japan experienced a period of economicstagnationand price deflation known as \"Japan'sLost Decade.\" While the Japanese economy outgrew this period, it did so at a much slower pace than other industrialized nations. During this period, the Japanese economy suffered from both acredit crunchand aliquidity trap.</p><p><blockquote>从1991年到2001年，日本经历了一段被称为“日本失去的十年”的经济停滞和物价通缩时期。虽然日本经济增长超过了这一时期，但其增长速度比其他工业化国家慢得多。在此期间，日本经济遭受了信贷紧缩和流动性陷阱。</blockquote></p><p> Understanding Japan's \"Lost Decade\" Real Estate CrisisJapan's Lost Decade</p><p><blockquote>了解日本“失去的十年”房地产危机日本失去的十年</blockquote></p><p> Japan's economy was the envy of the world in the 1980s—it grew at an average annual rate (as measured by GDP) of 3.89% in the 1980s, compared to 3.07% in the United States.1But Japan's economy ran into troubles in the 1990s.</p><p><blockquote>日本经济在20世纪80年代令世界羡慕——20世纪80年代的年均增长率（以GDP衡量）为3.89%，而美国为3.07%。1但日本经济在20世纪90年代陷入了困境。</blockquote></p><p> From 1991 to 2003, the Japanese economy, as measured by GDP, grew only 1.14% annually, well below that of other industrialized nations.1</p><p><blockquote>从1991年到2003年，以GDP衡量的日本经济年增长率仅为1.14%，远低于其他工业化国家。</blockquote></p><p> <b>KEY TAKEAWAYS</b></p><p><blockquote><b>关键要点</b></blockquote></p><p> <ul>  <li>Japan's \"Lost Decade\" was a period that lasted from about 1991 to 2001 that saw a great slowdown in Japan's previously bustling economy.</li>  <li>The main causes of this economic slowdown were raising interest rates that set a liquidity trap at the same time that a credit crunch was unfolding.</li>  <li>The major lessons economies can take from Japan's \"Lost Decade\" include using available public funds to restructure banks' balance sheets and that sometimes the fear of inflation can cause stagnation.</li> </ul> Japan's equity andreal estatebubbles burst starting in the fall of 1989. Equity values plunged 60% from late 1989 to August 1992,2whileland valuesdropped throughout the 1990s, falling an incredible 70% by 2001.3</p><p><blockquote><ul><li>日本“失去的十年”是从1991年左右持续到2001年的一段时间，日本以前繁荣的经济大幅放缓。</li><li>经济放缓的主要原因是加息，在信贷紧缩展开的同时，加息造成了流动性陷阱。</li><li>各经济体可以从日本“失去的十年”中吸取的主要教训包括利用可用的公共资金重组银行资产负债表，以及有时对通胀的担忧会导致经济停滞。</li></ul>日本的股票和房地产泡沫从1989年秋天开始破裂。从1989年末到1992年8月，股票价值暴跌了60%，2而土地价值在整个20世纪90年代都在下跌，到2001年更是惊人地下跌了70%。</blockquote></p><p> <b>The Bank of Japan's Interest Rate Mistakes</b></p><p><blockquote><b>日本央行的利率失误</b></blockquote></p><p> It is generally acknowledged that theBank of Japan(BoJ), Japan'scentral bank, made several mistakes that may have added to and prolonged the negative effects of the bursting of the equity and real estate bubbles.</p><p><blockquote>人们普遍认为，日本央行（BoJ）犯了几个错误，这些错误可能加剧并延长了股票和房地产泡沫破裂的负面影响。</blockquote></p><p> For example, monetary policy was stop-and-go; concerned aboutinflationand asset prices, the Bank of Japan put the brakes on themoney supplyin the late 1980s, which may have contributed to the bursting of the equity bubble. Then, as equity values fell, the BoJ continued to raise interest rates because it remained concerned with still-appreciating real estate values.4</p><p><blockquote>例如，货币政策走走停停；出于对通货膨胀和资产价格的担忧，日本央行在20世纪80年代末抑制了货币供应，这可能导致了股票泡沫的破裂。然后，随着股票价值的下跌，日本央行继续提高利率，因为它仍然担心仍在升值的房地产价值。</blockquote></p><p> Higher interest rates contributed to the end of rising land prices, but they also helped the overall economy slide into a downward spiral. In 1991, as equity and land prices fell, the Bank of Japan dramatically reversed course and began to cut interest rates.5But it was too late, aliquiditytrap had already been set, and a credit crunch was setting in.</p><p><blockquote>较高的利率有助于结束土地价格上涨，但也帮助整体经济陷入螺旋式下降。1991年，随着股票和土地价格下跌，日本银行戏剧性地改变了方针，开始降息。5但为时已晚，流动性陷阱已经设置，信贷紧缩正在发生。</blockquote></p><p> <b>A Liquidity Trap</b></p><p><blockquote><b>流动性陷阱</b></blockquote></p><p> A liquidity trap is an economic scenario in which households and investors sit on cash; either in short-term accounts or literally as cash on hand.</p><p><blockquote>流动性陷阱是指家庭和投资者坐拥现金的经济情景；要么是短期账户，要么是手头现金。</blockquote></p><p> They might do this for a few reasons: they have no confidence that they can earn a higherrate of returnby investing, they believedeflationis on the horizon (cash will increase in value relative to fixed assets), or deflation already exists. All three reasons are highly correlated, and under such circumstances, household and investor beliefs become reality.</p><p><blockquote>他们这样做可能有几个原因：他们没有信心通过投资获得更高的回报率，他们相信通货紧缩即将到来（现金相对于固定资产的价值会增加），或者通货紧缩已经存在。这三个原因都是高度相关的，在这种情况下，家庭和投资者的信念成为现实。</blockquote></p><p> In a liquidity trap, low interest rates, as a matter ofmonetary policy, become ineffective. People and investors simply don't spend or invest. They believe goods and services will be cheaper tomorrow, so they wait to consume, and they believe they can earn a better return by simply sitting on their money than by investing it. The Bank of Japan'sdiscount ratewas 0.5% for much of the 1990s, but it failed to stimulate the Japanese economy, and deflation persisted.6</p><p><blockquote>在流动性陷阱中，低利率作为货币政策变得无效。人们和投资者根本不消费或投资。他们相信明天商品和服务会更便宜，所以他们等待消费，他们相信简单地坐拥资金比投资更能获得更好的回报。在20世纪90年代的大部分时间里，日本央行的贴现率为0.5%，但这未能刺激日本经济，通货紧缩持续存在。</blockquote></p><p> <b>Breaking Out of a Liquidity Trap</b></p><p><blockquote><b>打破流动性陷阱</b></blockquote></p><p> To break out of a liquidity trap, households and businesses have to be willing to spend and invest. One way of getting them to do so is throughfiscal policy. Governments can give money directly to consumers through reductions intax rates, issuances of tax rebates, and public spending.</p><p><blockquote>为了摆脱流动性陷阱，家庭和企业必须愿意支出和投资。让他们这样做的一种方法是通过财政政策。政府可以通过降低税率、发放退税和公共支出直接向消费者提供资金。</blockquote></p><p></p><p> Japan tried several fiscal policy measures to break out of its liquidity trap, but it is generally believed that these measures were not executed well—money was wasted on inefficient public works projects and given to failing businesses. Most economists agree that for fiscal stimulus policy to be effective, money must be allocated efficiently. In other words, let the market decide where to spend and invest by placing money directly in the hands of consumers. (For related reading, check out<i>What Is Fiscal Policy?</i>)</p><p><blockquote>日本尝试了几项财政政策措施以突破其流动性陷阱，但人们普遍认为这些措施执行得并不好——钱被浪费在效率低下的公共工程项目上，并被给予了失败的企业。大多数经济学家都认为，为了使财政刺激政策有效，必须有效地分配资金。换句话说，通过将钱直接放在消费者手中，让市场决定在哪里消费和投资。（相关阅读，请查看<i>什么是财政政策？</i>)</blockquote></p><p> Another way to break out of the liquidity trap is to \"re-inflate\" the economy by increasing the actual supply of money as opposed to targetingnominal interest rates. A central bank can inject money into an economy without regard for an established target interest rate (such as thefed funds ratein the U.S.) through the purchase ofgovernment bondsinopen-market operations.</p><p><blockquote>打破流动性陷阱的另一种方法是通过增加实际货币供应量来“重新膨胀”经济，而不是以名义利率为目标。央行可以通过在公开市场操作中购买政府债券，向经济注入资金，而无需考虑既定的目标利率（例如美国的联邦基金利率）。</blockquote></p><p> This is when a central bank purchases a bond, in which case it effectively exchanges it for cash, which increases the money supply. This is known as themonetizationof debt. (It should be noted that open-market operations are also used to attain and maintain target interest rates, but when a central bank monetizes the debt, it does so without regard for a target interest rate.) (To learn more, read<i>How do central banks inject money into the economy?</i>)</p><p><blockquote>这是指中央银行购买债券，在这种情况下，它实际上将其兑换成现金，从而增加货币供应量。这就是所谓的债务货币化。（应该注意的是，公开市场操作也用于实现和维持目标利率，但当央行将债务货币化时，它是在不考虑目标利率的情况下这样做的。）（要了解更多信息，请阅读<i>央行如何向经济注入资金？</i>)</blockquote></p><p> In 2001, the Bank of Japan began to target the money supply instead of interest rates, which helped to moderate deflation and stimulateeconomic growth.5 However, when a central bank injects money into thefinancial system, banks are left with more money on hand, but also must be willing to lend that money out. This brings us to the next problem Japan faced: a credit crunch.</p><p><blockquote>2001年，日本央行开始以货币供应量而不是利率为目标，这有助于缓解通货紧缩并刺激经济增长。5然而，当央行向金融体系注入资金时，银行手头会有更多的资金，但也必须愿意将这些钱借出去。这给我们带来了日本面临的下一个问题：信贷紧缩。</blockquote></p><p> <b>Credit Crunch</b></p><p><blockquote><b>信贷紧缩</b></blockquote></p><p> A credit crunch is an economic scenario in which banks have tightened lending requirements and for the most part, do not lend.</p><p><blockquote>信贷紧缩是一种经济情况，在这种情况下，银行收紧了贷款要求，并且在大多数情况下不放贷。</blockquote></p><p> They may not lend for several reasons, including: 1) the need to hold onto reserves in order repair theirbalance sheetsafter suffering loses, which happened to Japanese banks that had invested heavily in real estate, and 2) there might be a generalpullbackin risk-taking, which happened in the United States in 2007 and 2008 asfinancial institutionsthat initially suffered losses related tosubprime mortgagelending pulled back in all types of lending, deleveraged their balance sheets, and generally sought to reduce their levels of risk in all areas.</p><p><blockquote>他们可能出于几个原因不放贷，包括：1）在遭受损失后需要持有准备金以修复资产负债表，这发生在大量投资房地产的日本银行身上；2）风险承担可能会普遍回落，2007年和2008年美国就发生了这种情况，最初遭受次级抵押贷款相关损失的金融机构减少了所有类型的贷款，去杠杆化了资产负债表，并普遍寻求降低所有领域的风险水平。</blockquote></p><p> Calculated risk-taking and lending is the life-blood of afree marketeconomy. When capital is put to work, jobs are created, spending increases, efficiencies are discovered (productivity increases), and the economy grows. On the other hand, when banks are reluctant to lend, it is difficult for the economy to grow.</p><p><blockquote>有计划的风险承担和借贷是自由市场经济的命脉。当资本投入工作时，就业机会被创造出来，支出增加，效率被发现（生产率提高），经济增长。另一方面，当银行惜贷时，经济就难以增长。</blockquote></p><p> In the same manner that a liquidity trap leads to deflation, a credit crunch is also conducive to deflation as banks are unwilling to lend, and therefore consumers and businesses are unable to spend, causing prices to fall.</p><p><blockquote>正如流动性陷阱导致通货紧缩一样，信贷紧缩也有利于通货紧缩，因为银行不愿意放贷，因此消费者和企业无法消费，导致价格下跌。</blockquote></p><p> <b>Solutions to a Credit Crunch</b></p><p><blockquote><b>信贷紧缩的解决方案</b></blockquote></p><p> Japan also suffered from a credit crunch in the 1990s and Japanese banks were slow to take losses. Even though public funds were made available to banks to restructure their balance sheets, they failed to do so because of the fear of stigma associated with revealing long-concealed losses and the fear of losing control to foreign investors.7 To break out of a credit crunch, bank losses must be recognized, the banking system must be transparent, and banks must gain confidence in their ability to assess and manage risk.</p><p><blockquote>日本在20世纪90年代也遭受了信贷紧缩，日本银行承担损失的速度很慢。尽管向银行提供了公共资金来重组其资产负债表，但它们未能这样做，因为担心披露长期隐瞒的损失会带来耻辱，担心失去对外国投资者的控制权。7为了摆脱信贷紧缩，必须承认银行损失，银行系统必须透明，银行必须对其评估和管理风险的能力充满信心。</blockquote></p><p> Clearly, deflation causes a lot of problems. When asset prices are falling, households and investors hoard cash because cash will be worth more tomorrow than it is today. This creates a liquidity trap. When asset prices fall, the value ofcollateralbacking loans falls, which in turn leads to bank losses. When banks suffer losses, they stop lending, creating a credit crunch.</p><p><blockquote>显然，通货紧缩会导致很多问题。当资产价格下跌时，家庭和投资者会囤积现金，因为现金明天会比今天更值钱。这就造成了流动性陷阱。当资产价格下跌时，抵押品支持贷款的价值就会下降，进而导致银行损失。当银行遭受损失时，它们会停止放贷，从而造成信贷紧缩。</blockquote></p><p> Most of the time, we think ofinflationas a very bad economic problem, which it can be, but re-inflating an economy might be precisely what is needed to avoid prolonged periods of slow growth such as what Japan experienced in the 1990s.</p><p><blockquote>大多数时候，我们认为通货膨胀是一个非常严重的经济问题，事实也确实如此，但经济重新通胀可能正是避免日本在20世纪90年代经历的长期缓慢增长所需要的。</blockquote></p><p> The problem is that re-inflating an economy isn't easy, especially when banks are unwilling to lend. Notable American economistMilton Friedmansuggested that the way to avoid a liquidity trap is by bypassingfinancial intermediariesand giving money directly to individuals to spend. This is known as \"helicopter money,\" because the theory is that a central bank could literally drop money from a helicopter.8 This also suggests that regardless of which country you live in, life is all about being in the right place at the right time.</p><p><blockquote>问题是让经济重新膨胀并不容易，尤其是在银行不愿意放贷的情况下。美国著名经济学家米尔顿·弗里德曼提出，避免流动性陷阱的方法是绕过金融中介，直接将钱交给个人消费。这被称为“直升机撒钱”，因为该理论认为中央银行可以从直升机上投放资金。8这也表明，无论你生活在哪个国家，生活就是在正确的时间出现在正确的地点。</blockquote></p><p></p>","source":"lsy1606203311635","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Lost Decade: Lessons From Japan's Real Estate Crisis<blockquote>失去的十年：日本房地产危机的教训</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Lost Decade: Lessons From Japan's Real Estate Crisis<blockquote>失去的十年：日本房地产危机的教训</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">investopedia</strong><span class=\"h-time small\">2021-06-30 09:30</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>What Was Japan's \"Lost Decade\" Real Estate Crisis?</b></p><p><blockquote><b>日本“失去的十年”房地产危机是什么？</b></blockquote></p><p> Free markets economies are subject tocycles.Economic cyclesconsist of fluctuating periods of economic expansion andcontractionas measured by a nation'sgross domestic product(GDP).</p><p><blockquote>自由市场经济受到周期的影响。经济周期由以一个国家的国内生产总值（GDP）衡量的经济扩张和收缩的波动时期组成。</blockquote></p><p> The length of economic cycles (periods of expansion vs. contraction) can vary greatly. The traditional measure of an economicrecessionis two or more consecutive quarters of falling gross domestic product. There are also economic depressions, which are extended periods of economic contraction such as theGreat Depressionof the 1930s.</p><p><blockquote>经济周期的长度（扩张期与收缩期）可能会有很大差异。经济衰退的传统衡量标准是国内生产总值连续两个或两个以上季度下降。还有经济萧条，即长期的经济收缩，例如20世纪30年代的大萧条。</blockquote></p><p> From 1991 through 2001, Japan experienced a period of economicstagnationand price deflation known as \"Japan'sLost Decade.\" While the Japanese economy outgrew this period, it did so at a much slower pace than other industrialized nations. During this period, the Japanese economy suffered from both acredit crunchand aliquidity trap.</p><p><blockquote>从1991年到2001年，日本经历了一段被称为“日本失去的十年”的经济停滞和物价通缩时期。虽然日本经济增长超过了这一时期，但其增长速度比其他工业化国家慢得多。在此期间，日本经济遭受了信贷紧缩和流动性陷阱。</blockquote></p><p> Understanding Japan's \"Lost Decade\" Real Estate CrisisJapan's Lost Decade</p><p><blockquote>了解日本“失去的十年”房地产危机日本失去的十年</blockquote></p><p> Japan's economy was the envy of the world in the 1980s—it grew at an average annual rate (as measured by GDP) of 3.89% in the 1980s, compared to 3.07% in the United States.1But Japan's economy ran into troubles in the 1990s.</p><p><blockquote>日本经济在20世纪80年代令世界羡慕——20世纪80年代的年均增长率（以GDP衡量）为3.89%，而美国为3.07%。1但日本经济在20世纪90年代陷入了困境。</blockquote></p><p> From 1991 to 2003, the Japanese economy, as measured by GDP, grew only 1.14% annually, well below that of other industrialized nations.1</p><p><blockquote>从1991年到2003年，以GDP衡量的日本经济年增长率仅为1.14%，远低于其他工业化国家。</blockquote></p><p> <b>KEY TAKEAWAYS</b></p><p><blockquote><b>关键要点</b></blockquote></p><p> <ul>  <li>Japan's \"Lost Decade\" was a period that lasted from about 1991 to 2001 that saw a great slowdown in Japan's previously bustling economy.</li>  <li>The main causes of this economic slowdown were raising interest rates that set a liquidity trap at the same time that a credit crunch was unfolding.</li>  <li>The major lessons economies can take from Japan's \"Lost Decade\" include using available public funds to restructure banks' balance sheets and that sometimes the fear of inflation can cause stagnation.</li> </ul> Japan's equity andreal estatebubbles burst starting in the fall of 1989. Equity values plunged 60% from late 1989 to August 1992,2whileland valuesdropped throughout the 1990s, falling an incredible 70% by 2001.3</p><p><blockquote><ul><li>日本“失去的十年”是从1991年左右持续到2001年的一段时间，日本以前繁荣的经济大幅放缓。</li><li>经济放缓的主要原因是加息，在信贷紧缩展开的同时，加息造成了流动性陷阱。</li><li>各经济体可以从日本“失去的十年”中吸取的主要教训包括利用可用的公共资金重组银行资产负债表，以及有时对通胀的担忧会导致经济停滞。</li></ul>日本的股票和房地产泡沫从1989年秋天开始破裂。从1989年末到1992年8月，股票价值暴跌了60%，2而土地价值在整个20世纪90年代都在下跌，到2001年更是惊人地下跌了70%。</blockquote></p><p> <b>The Bank of Japan's Interest Rate Mistakes</b></p><p><blockquote><b>日本央行的利率失误</b></blockquote></p><p> It is generally acknowledged that theBank of Japan(BoJ), Japan'scentral bank, made several mistakes that may have added to and prolonged the negative effects of the bursting of the equity and real estate bubbles.</p><p><blockquote>人们普遍认为，日本央行（BoJ）犯了几个错误，这些错误可能加剧并延长了股票和房地产泡沫破裂的负面影响。</blockquote></p><p> For example, monetary policy was stop-and-go; concerned aboutinflationand asset prices, the Bank of Japan put the brakes on themoney supplyin the late 1980s, which may have contributed to the bursting of the equity bubble. Then, as equity values fell, the BoJ continued to raise interest rates because it remained concerned with still-appreciating real estate values.4</p><p><blockquote>例如，货币政策走走停停；出于对通货膨胀和资产价格的担忧，日本央行在20世纪80年代末抑制了货币供应，这可能导致了股票泡沫的破裂。然后，随着股票价值的下跌，日本央行继续提高利率，因为它仍然担心仍在升值的房地产价值。</blockquote></p><p> Higher interest rates contributed to the end of rising land prices, but they also helped the overall economy slide into a downward spiral. In 1991, as equity and land prices fell, the Bank of Japan dramatically reversed course and began to cut interest rates.5But it was too late, aliquiditytrap had already been set, and a credit crunch was setting in.</p><p><blockquote>较高的利率有助于结束土地价格上涨，但也帮助整体经济陷入螺旋式下降。1991年，随着股票和土地价格下跌，日本银行戏剧性地改变了方针，开始降息。5但为时已晚，流动性陷阱已经设置，信贷紧缩正在发生。</blockquote></p><p> <b>A Liquidity Trap</b></p><p><blockquote><b>流动性陷阱</b></blockquote></p><p> A liquidity trap is an economic scenario in which households and investors sit on cash; either in short-term accounts or literally as cash on hand.</p><p><blockquote>流动性陷阱是指家庭和投资者坐拥现金的经济情景；要么是短期账户，要么是手头现金。</blockquote></p><p> They might do this for a few reasons: they have no confidence that they can earn a higherrate of returnby investing, they believedeflationis on the horizon (cash will increase in value relative to fixed assets), or deflation already exists. All three reasons are highly correlated, and under such circumstances, household and investor beliefs become reality.</p><p><blockquote>他们这样做可能有几个原因：他们没有信心通过投资获得更高的回报率，他们相信通货紧缩即将到来（现金相对于固定资产的价值会增加），或者通货紧缩已经存在。这三个原因都是高度相关的，在这种情况下，家庭和投资者的信念成为现实。</blockquote></p><p> In a liquidity trap, low interest rates, as a matter ofmonetary policy, become ineffective. People and investors simply don't spend or invest. They believe goods and services will be cheaper tomorrow, so they wait to consume, and they believe they can earn a better return by simply sitting on their money than by investing it. The Bank of Japan'sdiscount ratewas 0.5% for much of the 1990s, but it failed to stimulate the Japanese economy, and deflation persisted.6</p><p><blockquote>在流动性陷阱中，低利率作为货币政策变得无效。人们和投资者根本不消费或投资。他们相信明天商品和服务会更便宜，所以他们等待消费，他们相信简单地坐拥资金比投资更能获得更好的回报。在20世纪90年代的大部分时间里，日本央行的贴现率为0.5%，但这未能刺激日本经济，通货紧缩持续存在。</blockquote></p><p> <b>Breaking Out of a Liquidity Trap</b></p><p><blockquote><b>打破流动性陷阱</b></blockquote></p><p> To break out of a liquidity trap, households and businesses have to be willing to spend and invest. One way of getting them to do so is throughfiscal policy. Governments can give money directly to consumers through reductions intax rates, issuances of tax rebates, and public spending.</p><p><blockquote>为了摆脱流动性陷阱，家庭和企业必须愿意支出和投资。让他们这样做的一种方法是通过财政政策。政府可以通过降低税率、发放退税和公共支出直接向消费者提供资金。</blockquote></p><p></p><p> Japan tried several fiscal policy measures to break out of its liquidity trap, but it is generally believed that these measures were not executed well—money was wasted on inefficient public works projects and given to failing businesses. Most economists agree that for fiscal stimulus policy to be effective, money must be allocated efficiently. In other words, let the market decide where to spend and invest by placing money directly in the hands of consumers. (For related reading, check out<i>What Is Fiscal Policy?</i>)</p><p><blockquote>日本尝试了几项财政政策措施以突破其流动性陷阱，但人们普遍认为这些措施执行得并不好——钱被浪费在效率低下的公共工程项目上，并被给予了失败的企业。大多数经济学家都认为，为了使财政刺激政策有效，必须有效地分配资金。换句话说，通过将钱直接放在消费者手中，让市场决定在哪里消费和投资。（相关阅读，请查看<i>什么是财政政策？</i>)</blockquote></p><p> Another way to break out of the liquidity trap is to \"re-inflate\" the economy by increasing the actual supply of money as opposed to targetingnominal interest rates. A central bank can inject money into an economy without regard for an established target interest rate (such as thefed funds ratein the U.S.) through the purchase ofgovernment bondsinopen-market operations.</p><p><blockquote>打破流动性陷阱的另一种方法是通过增加实际货币供应量来“重新膨胀”经济，而不是以名义利率为目标。央行可以通过在公开市场操作中购买政府债券，向经济注入资金，而无需考虑既定的目标利率（例如美国的联邦基金利率）。</blockquote></p><p> This is when a central bank purchases a bond, in which case it effectively exchanges it for cash, which increases the money supply. This is known as themonetizationof debt. (It should be noted that open-market operations are also used to attain and maintain target interest rates, but when a central bank monetizes the debt, it does so without regard for a target interest rate.) (To learn more, read<i>How do central banks inject money into the economy?</i>)</p><p><blockquote>这是指中央银行购买债券，在这种情况下，它实际上将其兑换成现金，从而增加货币供应量。这就是所谓的债务货币化。（应该注意的是，公开市场操作也用于实现和维持目标利率，但当央行将债务货币化时，它是在不考虑目标利率的情况下这样做的。）（要了解更多信息，请阅读<i>央行如何向经济注入资金？</i>)</blockquote></p><p> In 2001, the Bank of Japan began to target the money supply instead of interest rates, which helped to moderate deflation and stimulateeconomic growth.5 However, when a central bank injects money into thefinancial system, banks are left with more money on hand, but also must be willing to lend that money out. This brings us to the next problem Japan faced: a credit crunch.</p><p><blockquote>2001年，日本央行开始以货币供应量而不是利率为目标，这有助于缓解通货紧缩并刺激经济增长。5然而，当央行向金融体系注入资金时，银行手头会有更多的资金，但也必须愿意将这些钱借出去。这给我们带来了日本面临的下一个问题：信贷紧缩。</blockquote></p><p> <b>Credit Crunch</b></p><p><blockquote><b>信贷紧缩</b></blockquote></p><p> A credit crunch is an economic scenario in which banks have tightened lending requirements and for the most part, do not lend.</p><p><blockquote>信贷紧缩是一种经济情况，在这种情况下，银行收紧了贷款要求，并且在大多数情况下不放贷。</blockquote></p><p> They may not lend for several reasons, including: 1) the need to hold onto reserves in order repair theirbalance sheetsafter suffering loses, which happened to Japanese banks that had invested heavily in real estate, and 2) there might be a generalpullbackin risk-taking, which happened in the United States in 2007 and 2008 asfinancial institutionsthat initially suffered losses related tosubprime mortgagelending pulled back in all types of lending, deleveraged their balance sheets, and generally sought to reduce their levels of risk in all areas.</p><p><blockquote>他们可能出于几个原因不放贷，包括：1）在遭受损失后需要持有准备金以修复资产负债表，这发生在大量投资房地产的日本银行身上；2）风险承担可能会普遍回落，2007年和2008年美国就发生了这种情况，最初遭受次级抵押贷款相关损失的金融机构减少了所有类型的贷款，去杠杆化了资产负债表，并普遍寻求降低所有领域的风险水平。</blockquote></p><p> Calculated risk-taking and lending is the life-blood of afree marketeconomy. When capital is put to work, jobs are created, spending increases, efficiencies are discovered (productivity increases), and the economy grows. On the other hand, when banks are reluctant to lend, it is difficult for the economy to grow.</p><p><blockquote>有计划的风险承担和借贷是自由市场经济的命脉。当资本投入工作时，就业机会被创造出来，支出增加，效率被发现（生产率提高），经济增长。另一方面，当银行惜贷时，经济就难以增长。</blockquote></p><p> In the same manner that a liquidity trap leads to deflation, a credit crunch is also conducive to deflation as banks are unwilling to lend, and therefore consumers and businesses are unable to spend, causing prices to fall.</p><p><blockquote>正如流动性陷阱导致通货紧缩一样，信贷紧缩也有利于通货紧缩，因为银行不愿意放贷，因此消费者和企业无法消费，导致价格下跌。</blockquote></p><p> <b>Solutions to a Credit Crunch</b></p><p><blockquote><b>信贷紧缩的解决方案</b></blockquote></p><p> Japan also suffered from a credit crunch in the 1990s and Japanese banks were slow to take losses. Even though public funds were made available to banks to restructure their balance sheets, they failed to do so because of the fear of stigma associated with revealing long-concealed losses and the fear of losing control to foreign investors.7 To break out of a credit crunch, bank losses must be recognized, the banking system must be transparent, and banks must gain confidence in their ability to assess and manage risk.</p><p><blockquote>日本在20世纪90年代也遭受了信贷紧缩，日本银行承担损失的速度很慢。尽管向银行提供了公共资金来重组其资产负债表，但它们未能这样做，因为担心披露长期隐瞒的损失会带来耻辱，担心失去对外国投资者的控制权。7为了摆脱信贷紧缩，必须承认银行损失，银行系统必须透明，银行必须对其评估和管理风险的能力充满信心。</blockquote></p><p> Clearly, deflation causes a lot of problems. When asset prices are falling, households and investors hoard cash because cash will be worth more tomorrow than it is today. This creates a liquidity trap. When asset prices fall, the value ofcollateralbacking loans falls, which in turn leads to bank losses. When banks suffer losses, they stop lending, creating a credit crunch.</p><p><blockquote>显然，通货紧缩会导致很多问题。当资产价格下跌时，家庭和投资者会囤积现金，因为现金明天会比今天更值钱。这就造成了流动性陷阱。当资产价格下跌时，抵押品支持贷款的价值就会下降，进而导致银行损失。当银行遭受损失时，它们会停止放贷，从而造成信贷紧缩。</blockquote></p><p> Most of the time, we think ofinflationas a very bad economic problem, which it can be, but re-inflating an economy might be precisely what is needed to avoid prolonged periods of slow growth such as what Japan experienced in the 1990s.</p><p><blockquote>大多数时候，我们认为通货膨胀是一个非常严重的经济问题，事实也确实如此，但经济重新通胀可能正是避免日本在20世纪90年代经历的长期缓慢增长所需要的。</blockquote></p><p> The problem is that re-inflating an economy isn't easy, especially when banks are unwilling to lend. Notable American economistMilton Friedmansuggested that the way to avoid a liquidity trap is by bypassingfinancial intermediariesand giving money directly to individuals to spend. This is known as \"helicopter money,\" because the theory is that a central bank could literally drop money from a helicopter.8 This also suggests that regardless of which country you live in, life is all about being in the right place at the right time.</p><p><blockquote>问题是让经济重新膨胀并不容易，尤其是在银行不愿意放贷的情况下。美国著名经济学家米尔顿·弗里德曼提出，避免流动性陷阱的方法是绕过金融中介，直接将钱交给个人消费。这被称为“直升机撒钱”，因为该理论认为中央银行可以从直升机上投放资金。8这也表明，无论你生活在哪个国家，生活就是在正确的时间出现在正确的地点。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.investopedia.com/articles/economics/08/japan-1990s-credit-crunch-liquidity-trap.asp?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral\">investopedia</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.investopedia.com/articles/economics/08/japan-1990s-credit-crunch-liquidity-trap.asp?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1160246970","content_text":"What Was Japan's \"Lost Decade\" Real Estate Crisis?\nFree markets economies are subject tocycles.Economic cyclesconsist of fluctuating periods of economic expansion andcontractionas measured by a nation'sgross domestic product(GDP).\nThe length of economic cycles (periods of expansion vs. contraction) can vary greatly. The traditional measure of an economicrecessionis two or more consecutive quarters of falling gross domestic product. There are also economic depressions, which are extended periods of economic contraction such as theGreat Depressionof the 1930s.\nFrom 1991 through 2001, Japan experienced a period of economicstagnationand price deflation known as \"Japan'sLost Decade.\" While the Japanese economy outgrew this period, it did so at a much slower pace than other industrialized nations. During this period, the Japanese economy suffered from both acredit crunchand aliquidity trap.\nUnderstanding Japan's \"Lost Decade\" Real Estate CrisisJapan's Lost Decade\nJapan's economy was the envy of the world in the 1980s—it grew at an average annual rate (as measured by GDP) of 3.89% in the 1980s, compared to 3.07% in the United States.1But Japan's economy ran into troubles in the 1990s.\nFrom 1991 to 2003, the Japanese economy, as measured by GDP, grew only 1.14% annually, well below that of other industrialized nations.1\nKEY TAKEAWAYS\n\nJapan's \"Lost Decade\" was a period that lasted from about 1991 to 2001 that saw a great slowdown in Japan's previously bustling economy.\nThe main causes of this economic slowdown were raising interest rates that set a liquidity trap at the same time that a credit crunch was unfolding.\nThe major lessons economies can take from Japan's \"Lost Decade\" include using available public funds to restructure banks' balance sheets and that sometimes the fear of inflation can cause stagnation.\n\nJapan's equity andreal estatebubbles burst starting in the fall of 1989. Equity values plunged 60% from late 1989 to August 1992,2whileland valuesdropped throughout the 1990s, falling an incredible 70% by 2001.3\nThe Bank of Japan's Interest Rate Mistakes\nIt is generally acknowledged that theBank of Japan(BoJ), Japan'scentral bank, made several mistakes that may have added to and prolonged the negative effects of the bursting of the equity and real estate bubbles.\nFor example, monetary policy was stop-and-go; concerned aboutinflationand asset prices, the Bank of Japan put the brakes on themoney supplyin the late 1980s, which may have contributed to the bursting of the equity bubble. Then, as equity values fell, the BoJ continued to raise interest rates because it remained concerned with still-appreciating real estate values.4\nHigher interest rates contributed to the end of rising land prices, but they also helped the overall economy slide into a downward spiral. In 1991, as equity and land prices fell, the Bank of Japan dramatically reversed course and began to cut interest rates.5But it was too late, aliquiditytrap had already been set, and a credit crunch was setting in.\nA Liquidity Trap\nA liquidity trap is an economic scenario in which households and investors sit on cash; either in short-term accounts or literally as cash on hand.\nThey might do this for a few reasons: they have no confidence that they can earn a higherrate of returnby investing, they believedeflationis on the horizon (cash will increase in value relative to fixed assets), or deflation already exists. All three reasons are highly correlated, and under such circumstances, household and investor beliefs become reality.\nIn a liquidity trap, low interest rates, as a matter ofmonetary policy, become ineffective. People and investors simply don't spend or invest. They believe goods and services will be cheaper tomorrow, so they wait to consume, and they believe they can earn a better return by simply sitting on their money than by investing it. The Bank of Japan'sdiscount ratewas 0.5% for much of the 1990s, but it failed to stimulate the Japanese economy, and deflation persisted.6\nBreaking Out of a Liquidity Trap\nTo break out of a liquidity trap, households and businesses have to be willing to spend and invest. One way of getting them to do so is throughfiscal policy. Governments can give money directly to consumers through reductions intax rates, issuances of tax rebates, and public spending.\nJapan tried several fiscal policy measures to break out of its liquidity trap, but it is generally believed that these measures were not executed well—money was wasted on inefficient public works projects and given to failing businesses. Most economists agree that for fiscal stimulus policy to be effective, money must be allocated efficiently. In other words, let the market decide where to spend and invest by placing money directly in the hands of consumers. (For related reading, check outWhat Is Fiscal Policy?)\nAnother way to break out of the liquidity trap is to \"re-inflate\" the economy by increasing the actual supply of money as opposed to targetingnominal interest rates. A central bank can inject money into an economy without regard for an established target interest rate (such as thefed funds ratein the U.S.) through the purchase ofgovernment bondsinopen-market operations.\nThis is when a central bank purchases a bond, in which case it effectively exchanges it for cash, which increases the money supply. This is known as themonetizationof debt. (It should be noted that open-market operations are also used to attain and maintain target interest rates, but when a central bank monetizes the debt, it does so without regard for a target interest rate.) (To learn more, readHow do central banks inject money into the economy?)\nIn 2001, the Bank of Japan began to target the money supply instead of interest rates, which helped to moderate deflation and stimulateeconomic growth.5 However, when a central bank injects money into thefinancial system, banks are left with more money on hand, but also must be willing to lend that money out. This brings us to the next problem Japan faced: a credit crunch.\nCredit Crunch\nA credit crunch is an economic scenario in which banks have tightened lending requirements and for the most part, do not lend.\nThey may not lend for several reasons, including: 1) the need to hold onto reserves in order repair theirbalance sheetsafter suffering loses, which happened to Japanese banks that had invested heavily in real estate, and 2) there might be a generalpullbackin risk-taking, which happened in the United States in 2007 and 2008 asfinancial institutionsthat initially suffered losses related tosubprime mortgagelending pulled back in all types of lending, deleveraged their balance sheets, and generally sought to reduce their levels of risk in all areas.\nCalculated risk-taking and lending is the life-blood of afree marketeconomy. When capital is put to work, jobs are created, spending increases, efficiencies are discovered (productivity increases), and the economy grows. On the other hand, when banks are reluctant to lend, it is difficult for the economy to grow.\nIn the same manner that a liquidity trap leads to deflation, a credit crunch is also conducive to deflation as banks are unwilling to lend, and therefore consumers and businesses are unable to spend, causing prices to fall.\nSolutions to a Credit Crunch\nJapan also suffered from a credit crunch in the 1990s and Japanese banks were slow to take losses. Even though public funds were made available to banks to restructure their balance sheets, they failed to do so because of the fear of stigma associated with revealing long-concealed losses and the fear of losing control to foreign investors.7 To break out of a credit crunch, bank losses must be recognized, the banking system must be transparent, and banks must gain confidence in their ability to assess and manage risk.\nClearly, deflation causes a lot of problems. When asset prices are falling, households and investors hoard cash because cash will be worth more tomorrow than it is today. This creates a liquidity trap. When asset prices fall, the value ofcollateralbacking loans falls, which in turn leads to bank losses. When banks suffer losses, they stop lending, creating a credit crunch.\nMost of the time, we think ofinflationas a very bad economic problem, which it can be, but re-inflating an economy might be precisely what is needed to avoid prolonged periods of slow growth such as what Japan experienced in the 1990s.\nThe problem is that re-inflating an economy isn't easy, especially when banks are unwilling to lend. Notable American economistMilton Friedmansuggested that the way to avoid a liquidity trap is by bypassingfinancial intermediariesand giving money directly to individuals to spend. This is known as \"helicopter money,\" because the theory is that a central bank could literally drop money from a helicopter.8 This also suggests that regardless of which country you live in, life is all about being in the right place at the right time.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1169,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":111237183,"gmtCreate":1622681968342,"gmtModify":1631894051091,"author":{"id":"3563007583951606","authorId":"3563007583951606","name":"jezza","avatar":"https://static.tigerbbs.com/ee8927fb8d533f31310ae9ce418e859c","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563007583951606","idStr":"3563007583951606"},"themes":[],"htmlText":"🍿&nbsp;","listText":"🍿&nbsp;","text":"🍿","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/111237183","repostId":"1115876867","repostType":4,"isVote":1,"tweetType":1,"viewCount":311,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}